latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/nmc-health-plans-to-sell-distribution-unit-for-300m-8211-bloomberg-57851214 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

NMC Health plans to sell distribution unit for $300M – Bloomberg

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

NMC Health plans to sell distribution unit for $300M – Bloomberg

NMC Health PLC is seeking to raise up to $300 million by selling its distribution unit in the United Arab Emirates, Bloomberg reported March 31, citing people close to the matter.

The troubled Middle Eastern company, which owns and manages about 200 healthcare facilities across 19 countries, has been caught up in controversy after short seller Muddy Waters LLC issued warnings in December 2019 regarding its accounting practices.

The unit, NMC Trading, has over 1,700 employees and is the exclusive distributor in the UAE of products by Sanofi, Pfizer Inc., Medtronic PLC, Unilever PLC, Nestlé SA and a range of other pharmaceutical, medical equipment, food and educational material manufacturers.

NMC is in talks with an adviser to assess buyer interest, the Bloomberg report said. Discussions are still in the early stages and there is no guarantee the sale will go ahead, the report added.

Many of NMC's senior figures have departed the company this year, including CFO Prasanth Shenoy, CEO and director Prasanth Manghat and founder Bavaguthu Raghuram Shetty.