Abu Dhabi, UAE 5th November 2024 – Emirates Hospitals Group L.L.C. is pleased to announce the successful implementation of its comprehensive restructuring plan, which has been approved by the Abu Dhabi Court of First Instance. This significant milestone marks a new chapter for EHG, ensuring a robust financial foundation and to provide sustainable growth for the future.
The restructuring plan, ratified under the UAE Bankruptcy Law, involves significant reduction of debt, a new robust governance structure with a board comprising of internationally and locally well-known healthcare professionals, and the provision of additional financing to meet EHG’s ongoing operational and capital expenditure needs.
Christian Schuhmacher, Executive Chairman of the restructured EHG Group, commented on the successful restructuring: “The completion of this restructuring marks a pivotal moment for Emirates Hospitals Group. By right-sizing our financial obligations and embedding a robust governance framework into the group, we are well positioned to continue providing exceptional healthcare services and achieve sustainable growth. I would like to extend my gratitude to our patients who continue to put their trust in Emirates Hospitals as well as to our employees, suppliers, financial creditors, the Court and the Court-appointed trustees for their support and cooperation throughout this process.”