Healthcare company PureHealth Holding is mulling an acquisition of hospital network NMC Healthcare sometime next year, Gulf News reports, citing banking sources it says are familiar with the matter. The company is in the early stages of studying a bid for the hospital network, unnamed sources told Bloomberg, though Gulf News’ sources say the transaction is likely to go through.

The size of the potential acquisition hasn’t been disclosed, but the transaction could value the hospital chain at a few bn USD, with other suitors potentially emerging,

We knew NMC was looking to sell the business: The hospital network operator orchestrated a strategic turnaround this year after reaching an out-of-court settlement on all of its disputes with Dubai Islamic Bank in March. It also tapped Rothschild & Co to advise on its strategic restructuring plans, including a potential sale of the business.

Background: The company was forced into administration by a London Court in 2020 after a Muddy Waters report claimed that it inflated its assets and owed over USD 4 bn in hidden debt.

PureHealth is on an acquisition spree: It’s currently pursuing the acquisition of the largest hospital operator in Greece and Cyprus, Hellenic Healthcare Group. The healthcare firm also acquired the UK healthcare operator Circle Health Group for USD 1.2 bn earlier this year.

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