PHOTO
25 March 2016
Muscat - Atlas hospital Oman operations will soon be taken over by Abu Dhabi-based New Medical Centre (NMC) Group, the flagship company that enjoys a major share in UAE's healthcare sector.
Accordingly, the deal to transfer the ownership of Atlas Ghubra and Ruwi is almost through as both sides have entered into agreement with some minor touchups left and this will be the maiden venture of the Group in Oman.
"The two hospitals belonged to the Atlas group will be transferred to NMC group for a remuneration of some RO 12 million (approximately) the final mode of transfer is expected next week", a highly placed source close to the hospital has said.
Initially, the deal is for management and operations which will soon be converted into share purchase and complete ownership, according to the agreement.
The deal will be implemented through two banks, Bank of Baroda and ICICI, the source further added.
The two hospitals were put on sale after the Chairman of Atlas, MM Ramachandran was jailed after some of his cheques bounced and creditors moved court.
He was arrested and his family was asked to produce bail amount to free him.
Initially, there was indefinite both at the line management level as well as for the employees about future but they were all baseless, according to the senior doctors and other management staff. "Not even once did our salary was delayed nor the hospital was closed once.
Still, there was uncertainty about future as nothing was clear if the hospitals would be wound up or management changed and the like", a senior medical staff said, adding that "things are quite clear now and we heave a sigh of relief". Atlas Jewellery was born in Kuwait post Gulf War and was soon spread across the region quite rapidly in less than two decades.
Muscat - Atlas hospital Oman operations will soon be taken over by Abu Dhabi-based New Medical Centre (NMC) Group, the flagship company that enjoys a major share in UAE's healthcare sector.
Accordingly, the deal to transfer the ownership of Atlas Ghubra and Ruwi is almost through as both sides have entered into agreement with some minor touchups left and this will be the maiden venture of the Group in Oman.
"The two hospitals belonged to the Atlas group will be transferred to NMC group for a remuneration of some RO 12 million (approximately) the final mode of transfer is expected next week", a highly placed source close to the hospital has said.
Initially, the deal is for management and operations which will soon be converted into share purchase and complete ownership, according to the agreement.
The deal will be implemented through two banks, Bank of Baroda and ICICI, the source further added.
The two hospitals were put on sale after the Chairman of Atlas, MM Ramachandran was jailed after some of his cheques bounced and creditors moved court.
He was arrested and his family was asked to produce bail amount to free him.
Initially, there was indefinite both at the line management level as well as for the employees about future but they were all baseless, according to the senior doctors and other management staff. "Not even once did our salary was delayed nor the hospital was closed once.
Still, there was uncertainty about future as nothing was clear if the hospitals would be wound up or management changed and the like", a senior medical staff said, adding that "things are quite clear now and we heave a sigh of relief". Atlas Jewellery was born in Kuwait post Gulf War and was soon spread across the region quite rapidly in less than two decades.
© Oman Daily Observer 2016
