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United Arab Emirates-based healthcare provider NMC Health is buying the Al Zahra Hospital in Sharjah for $560 million, the London-listed company said on Wednesday, as it pushes ahead with its expansion in the UAE and the Gulf.The acquisition will be funded by a mix of equity and debt with NMC placing around 10 percent of its issued share capital equivalent to $300 million, Prasanth Manghat, deputy chief executive, told Reuters.NMC's three largest shareholders, who together control 61.6 per cent of NMC, plan to subscribe for up to $170 million of the placement, he said. (reuters)
