Shiradi Ghat road to be opened for traffic after six months

Abu Dhabi-based NMC Healthcare has reportedly received bids to sell its distribution unit and will soon be selling it to different parties.

The development comes over three months after NMC Healthcare’s founder and then-chairman B R Shetty stepped down amid allegations of massive fraud. 

The company, which recently laid off hundreds of workers, is offloading stake in the subsidiary as it is considered non-core and requires substantially high working capital to run the operations. In addition, this stake sale will help the company pay off some of its debt

"There are parties who have strong interest in the distribution business. NMC will be offloading the unit soon and that also to different parties," a source said.

"The company is in the process of exploring options for NMC Trading, the group's distribution business, which it has determined to be non-core and requiring substantial levels of working capital. The process should not materially adversely impact distributors' activities, nor NMC Trading's customers," an NMC Healthcare spokeswoman said.

The UK-court has appointed Alvarez & Marsal as administrator to oversee the operations of the debt-ridden hospital operator. The healthcare firm has been caught in a whirlpool of $6.6 billion debt while its senior former high management team is under investigation for financial irregularities.

The UAE Central Bank has direct local banks to freeze all bank accounts of NMC founder BR Shetty and his family members as well as accounts of those companies where he has a stake. The Central Bank move is subsequent to a criminal complaint filed by Abu Dhabi Commercial Bank, which has the largest exposure to NMC Healthcare, amounting Dh3 billion.

As the company faces financial difficulties, Reuters reported that NMC Health delayed May staff salaries and now expects to complete making payments by the first week of June.

The spokeswoman said: "The company has been in regular dialogue with its creditor constituencies through various creditor committees, including the direct bank lenders to its NMC Trading businesses."

Bengaluru, Jul 19: Karnataka Chief Minister B S Yediyurappa convened a meeting with Private Medical College Hospitals on Saturday to assess COVID-19 management and directed them to provide 50 per cent of the beds, as promised, with effect from Sunday.

The chief minister said that private medical college hospitals need to cooperate as there is a sharp rise in COVID-10 cases in the city. He further said that it has come to the notice of the government that some institutes are denying treatment of COVID-19 as well as non-COVID patients.

The chief minister expressed his concerns over media reports stating several people died as they didn't get timely treatment due to denial from the hospitals. He said that Bengaluru should continue to lead the country as a role model in COVID-19 management.

During previous meetings, private medical colleges had agreed upon providing around 4,500 beds, which would make the total beds available in government and private medical colleges 6,500.

The chief minister expressed dismay over some colleges not providing the number of beds as promised and also about certain lacunae which were noticed by ministers during their visit.
During this emergency situation, we should show humanity. COVID and non-COVID patients shall not be denied treatment and the balance in healthcare system shall be maintained, he advised.

He assured them of all support, including providing doctors and nurses if need be.
The private medical colleges had assured to provide 50 per cent of beds and some colleges offered 80 per cent of the beds for COVID treatment.

Nodal officers have already been appointed to monitor the availability of beds in these medical colleges.

It was decided to issue a notice to Vaidehi Medical College for their absence in the meeting.

Kalaburagi, Jun 16: Stones were pelted by villagers at an ambulance and a vehicle of health department at Tanda village here, which was fetching 15 people who had tested positive for COVID-19 to a hospital for treatment.

"A medical team along with some police personnel had gone to the Tanda village to bring 15 people who had tested positive for COVID-19 to a hospital for treatment on Monday," Lada Martin Marbaniang, Superintendent of Police (SP) Kalaburagi said.

"The medical team had an argument with villagers, which turned violent and those people started pelting stones at the ambulance and a vehicle of the health department," the SP said.

"On getting information, we rushed more security forces to the village. I visited the spot and spoke to a few leaders. Subsequently, we were able to convince them and all of them were brought to the hospital. A case has been registered against violent offenders," he added.