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BMI Healthcare completes £2B restructuring

BMI Healthcare Ltd. completed its £2 billion financial restructuring which could help the largest British private hospital chain save roughly £60 million in annual rent expenses.

The financial restructuring does not alter South African healthcare provider Netcare Ltd.'s 56.9% ownership interest in six hospital properties of which BMI Healthcare is the tenant.

Netcare — which held a 57% stake in BMI exited the company in March 2018 due to difficult rent conditions and a decline in demand from the U.K. National Health Service. Accordingly, both Netcare's equity and debt interests in BMI Healthcare are currently carried at zero value in its accounts.