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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, Mar 30: Karnataka Chief Minister BS Yediyurappa on Monday appealed to people to strictly follow the restrictions in the state, saying that the ending of 21-day nationwide lockdown imposed to contain COVID-19 depends on how the public adheres to the rules.

In a press statement, Yediyurappa appealed to the people to help the government to prevent the spread of coronavirus by strictly following the lockdown.

"People of Karnataka are known for tolerance and patience. They are law-abiding citizens. Now, the lockdown in wake of coronavirus is a testing time for them. It has come to test the patience of our people, especially the people of Karnataka. Prime Minister Narendra Modi himself has apologized and said that lockdown was an inevitable step taken by the government to protect people from the pandemic. We have to realise the predicament of a prime minister who always cares for the well being of the country and its people," the statement quoted Yediyurappa as saying.

"At this hour of crisis, it is not good on our part to come out of houses and violate the curfew. The ending of lockdown depends on strictness with which one follows the curfew and maintain social distancing. If one follows the curfew strictly, the lockdown period will automatically end on April 14. Whether to end the lockdown or not is in your hands," he said.

The Chief Minister urged not to test the patience of police, saying, "Already our police are under stress as they are working without any rest. Do not force them to use the force and later blame them for stern action."

He also appealed to follow the lockdown provisions and stay back in their home.
"The government has taken all measures to maintain the supply of essentials and food to the needy. Consider this situation as a blessing in disguise and spend your valuable time reading books which in turn will boost your knowledge and intellectual capacity. My earnest request to even the poor is spending your time by involving yourselves in creative activities inside your houses," Yediyurappa said.

"At the same time, it is time for us to respect the sacrificing work of the doctors, nurses, health staff and civic workers who are working round the clock to save the lives of hundreds of people affected by coronavirus. My appeal to you all strictly follows the curfew rules and maintains the social distance to combat COVID-19," he added.

Lucknow, Jul 20: Dr Azizuddin Sheikh, who was fighting COVID-19 as a front line worker, passed away after contracting coronavirus in Uttar Pradesh. He is survived by a wife and three small children. 

40-year-old Dr Azizuddin, who hailed from Rajasthan, was serving as a paediatrician at Avanti Bai Hospital and Duffein Hospital, Lucknow for past few years. He had also worked in the Middle Eastern countries. 

When a large number of doctors preferred to stay home following the covid-19 outbreak, Dr Azizudin was working 16 to 17 hours battling the pandemic. 

According to sources, he tested positive for the covid-19 last month. “After the reports came positive, he had to call the concerned authorities many times to take him to the hospital,” recalled his family members.

He was first admitted to Lok Bandhu Hospital and was later shifted to KGMU after his condition deteriorated. Later he was taken to SGPGIMS.
 
“Despite following all the guidelines and taking every precaution while treating coronavirus patients, he tested positive for the covid-19. It’s a shock for all of us,” he said.

He used to console his family members and instill confidence among them, said one of his relatives. 

A local newspaper quoted his friends as saying that he was very dedicated in serving people that he used to take minimal possible fees from his patients. When the family asked him to increase consultation fees his reply would be, “They are poor people, how will they afford”?

After his death, one of his patients Alok Singh wrote about an incident. “When I asked doctor Sahib why he charges so less, his answer was I have to answer Allah. The truth that he has left us will always be the reason for our grief.”