UAE - Mubasher: Abu Dhabi's NMC Health has sold its Spain-based fertility business Eugin Group to Fresenius Helios in exchange for EUR 430 million.
Expected to be completed by the end of first half (H1) of 2021, the transaction will generate a sizeable intake of funds that will help NMC in the coming months, according to a press release on Monday.
The transaction is part of the objective of NMC, which is under court-ordered administration since April, to exist from all non-core strategic assets and focus on its businesses in the UAE.
Eugin Group is composed of Luarmia S.L. and Boston IVF Ventures.
In August, NMC Healthcare has developed a three-year business plan, which is aimed at driving growth in its main markets in the Middle East.
It is noteworthy to mention that in August, NMC Health received new financial facilities worth $250 million, as part its planned restructuring, which would contribute to enhancing its financial security and ensure its continuous operations.
