UAE-based hospital operator NMC Healthcare has begun a strategic review of its operations by appointing Rothschild & Co as the first of two joint financial advisers.

Rothschild & Co will explore various strategic alternatives for the company's shareholders, which could include a potential initial public offering (IPO), a sale of the business or other options.

A second financial adviser is expected to be appointed shortly to assist with the review process.

The appointment of Rothschild & Co marks a continuation of significant strategic developments for NMC Healthcare.

Since March 2022, the group has undergone a successful restructuring and 34 of its core operating companies have exited administration.

The Abu Dhabi Global Market (ADGM) courts managed this process, which adhered to ADGM's insolvency regulations.

NMC Healthcare has also established a new board of directors and recruited new executive and group leadership teams, both of which are led by CEO David Hadley.

In addition, it has successfully resolved and concluded significant legacy creditor litigation and developed and implemented strategic business, growth and digital transformation plans across the group.

As the strategic review progresses, Rothschild & Co will handle market enquiries on behalf of the healthcare provider.

NMC Healthcare CEO David Hadley said: “The market is witnessing rapid population growth and presents an attractive opportunity to provide high quality medical services across diverse and changing demographics.

“We are committed to delivering continued value to our stakeholders and the millions of patients we serve every year.” 

Established in 1975, NMC Healthcare operates 85 hospitals, medical facilities and speciality clinics, along with brands such as CosmeSurge, ProVita International Medical Centre and Fakih IVF Fertility Centre.

The private healthcare network has around 12,000 employees and caters to more than 5.5 million patients a year across Abu Dhabi, Sharjah, Dubai, Ras Al Khaimah and Ajman.