NMC Health’s new exec chair vows to recover misused funds

DUBAI, April 4 (Reuters) – The new executive chairman of hospital operator NMC Health vowed on Saturday to work with authorities in Britain and the United Arab Emirates to recover misused funds and called on the company’s creditors for a debt standstill.

Faisal Belhoul “calls for a temporary standstill from creditors to allow time to prepare and activate a recovery plan,” the company said in a statement.

London-listed NMC recently revised its debt position to $6.6 billion, much higher than earlier estimated. (Reporting by Saeed Azhar Editing by Mark Heinrich)