Challenges to recruit adequate numbers of doctors and nurses has been the biggest struggle for the UAE's largest private healthcare provider as it triaged corporate scandal and the Covid-19 pandemic over the past two years, said NMC Healthcare's chief executive.
“My job was to somehow create a chasm between what we were dealing with, with the legal issues and the restructuring issues and the discovery of the fraud, with our 12,000 employees who were in the middle of the worst pandemic the world had seen in 100 years,” Michael Davis told The National's Business Extra podcast.
He described a hiring landscape that was deeply competitive for doctors and nurses during the pandemic, when in major markets around the world, including the UAE, staff were being offered thousands of dollars more on top of their typical salaries to join hospitals.
Mr Davis was promoted to chief executive in February 2020 after three years at the company, coming to the helm at a time when NMC Health was on the brink of collapse after a more than $4 billion debt pile was uncovered in one of the biggest corporate scandals in the country's history.
That history is receding as the new NMC charts a path under a brand new board of directors made up of its biggest creditors and shareholders, while defending its position as the largest private healthcare provider in the UAE.
In March, a restructuring process was completed, a move that allowed 34 NMC companies to exit administration — a signal that jobs and cash flow have been saved. Before that, NMC's business rebounded in the first half of 2021 as revenue beat expectations despite the pandemic headwinds.
Last year, the healthcare provider saw 5.5 million patients, with an even split between adult and paediatric patients.
For now, the company is focused on growth, with no plans to rebrand from the damaged legacy of the company's founder and former joint chairman, BR Shetty, and no immediate plans to go public again, Mr Davis said.
“Having delisted from the London Stock Exchange in April [2020], that was a very difficult and painful journey,” Mr Davis said. “My focus is on continued growth, emerging from the pandemic, retaining our staff, hiring new doctors.
“But [an IPO] is not something that's on the forefront of our mind now.”
NMC owns 65 healthcare facilities in the UAE and Oman, including multi-speciality hospitals, fertility specialists Fakih IVF, cosmetic clinic chain Cosmesurge and long-term rehabilitation and home care brand ProVida.
In terms of growth, the company is looking to bring on more sub-speciality doctors, particularly in treatment areas where patients typically would go abroad. NMC now has a collaboration agreement with Boston Children's Hospital in the US to bring sub-speciality paediatricians to the UAE, a model of care that Mr Davis is looking to replicate.
NMC is also looking to expand its home dialysis service, which grew out of the pandemic when patients were less inclined to leave their homes. More beds are also being added at NMC Royal Hospital and NMC Specialty Hospital in Dubai, where “those hospitals are bursting at the seams”, Mr Davis said.
The company chief is also focused on corporate governance under a new board of directors, which was formed on March 25 and has since met at least three times.
Abu Dhabi Commercial Bank, which had the most exposure among lenders to NMC liabilities — worth $981 million — appointed three of the seven new directors to the healthcare company. Kevin Taylor, group treasurer at ADCB, is now NMC's chairman.
Mr Davis called this new board “an eye-opening experience” — seemingly for everyone involved.
“We have a board that is heavily leaning towards financial restructuring and legal,” he said. "[And] what has been interesting for the board is many of the people that were creditors, who have been so supportive, know NMC from a spreadsheet.”
That impression has become more nuanced as the new board has become acquainted with NMC's role during the pandemic. It has thus far given more than four million PCR tests and administered more than 150,000 Covid-19 vaccines.
“Now they actually see what we're doing, they've gone out to the facilities, they've met some of the clinicians, they've met the employees and it's a new world for them,” Mr Davis said.
The board has “stress-tested the business” and “doubled down”, with the message being “we believe in you, we believe in the company. And we're gonna give you what it takes to make the company successful”, he said.
“It's been really nice to see and to interact with the people that essentially saved the business. There's no other way to say it,” Mr Davis added.
“I think that there's probably no safer investment than NMC at this point, because really, we were able to rip the band-aid off and begin to build a company that we all wanted to work for in the first place.”
The five pillars of Islam
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
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The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
The specs
Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
UAE currency: the story behind the money in your pockets
The five pillars of Islam
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Zayed Sustainability Prize
PROFILE OF HALAN
Started: November 2017
Founders: Mounir Nakhla, Ahmed Mohsen and Mohamed Aboulnaga
Based: Cairo, Egypt
Sector: transport and logistics
Size: 150 employees
Investment: approximately $8 million
Investors include: Singapore’s Battery Road Digital Holdings, Egypt’s Algebra Ventures, Uber co-founder and former CTO Oscar Salazar
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Killing of Qassem Suleimani
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
Mohammed bin Zayed Majlis
UAE currency: the story behind the money in your pockets
Mohammed bin Zayed Majlis
RESULTS
5pm: Maiden (PA) Dh80,000 1,200m
Winner: Shafaf, Sam Hitchcott (jockey), Ahmed Al Mehairbi (trainer)
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
Winner: Noof KB, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Listed (TB) Dh380,000 1,400m
Winner: Taamol, Jim Crowley, Ali Rashid Al Raihe
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
Winner: Rmmas, Tadhg O’Shea, Jean de Roualle
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (PA) Dh80,000 1,400m
Winner: AF Mekhbat, Antonio Fresu, Ernst Oertel
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
UAE currency: the story behind the money in your pockets
Zayed Sustainability Prize
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RESULTS
4pm: Al Bastakiya Listed US$250,000 (Dirt) 1,900m
Winner: Yulong Warrior, Richard Mullen (jockey), Satish Seemar (trainer)
4.35pm: Mahab Al Shimaal Group 3 $200,000 (D) 1,200m
Winner: Jordan Sport, Adrie de Vries, Fawzi Nass
5.10pm: Nad Al Sheba Conditions $200,000 (Turf) 1,200m
Winner: Jungle Cat, William Buick, Charlie Appleby
5.45pm: Burj Nahaar Group 3 $200,000 (D) 1,600m
Winner: Kimbear, Patrick Dobbs, Doug Watson
6.20pm: Jebel Hatta Group 1 $300,000 (T) 1,800m
Winner: Blair House, James Doyle, Charlie Appleby
6.55pm: Al Maktoum Challenge Round-3 Group 1 $400,000 (D) 2,000m
Winner: North America, Richard Mullen, Satish Seemar
7.30pm: Dubai City of Gold Group 2 $250,000 (T) 2,410m
Winner: Hawkbill, William Buick, Charlie Appleby.
KILLING OF QASSEM SULEIMANI
Bullet%20Train
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Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Mohammed bin Zayed Majlis
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
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