UAE: NMC CEO resigns after five years at company – News

Michael Davis oversaw the country’s largest private healthcare provider exiting administration in March

Michael Davis has resigned as chief executive of NMC, the UAE’s largest private healthcare provider. A spokesman for the group confirmed his exit after five years at the company and praised him for leading NMC “successfully through a challenging period”.

“He has indicated to the board that he intends to step down and leave the company later this year. The board is working closely with Davis to ensure a smooth transition of leadership and will communicate these details to all stakeholders in due course time,” the spokesman said.

Davis has led the team through some turbulent times. He oversaw the group’s exit from management in March, making the company a subsidiary of a new company called NMC OpCo Ltd.

Davies remains as chief executive of NMC Opco Ltd, the statement added.

NMC Healthcare PLC entered administration in April 2020, following legal action by key creditors over a number of the company’s developments. The 34 operating companies subsequently applied to ADGM for voluntary management in September 2020.

Co-administrators Alvarez & Marsal worked closely with creditors and NMC’s new management team led by Davis to design and implement a three-year business plan. The plan prioritizes providing high-quality healthcare while achieving financial stability through operational efficiencies and the sale of non-core assets.