UAE: NMC chairman steps down

Faisal Belhoul, executive chairman of NMC Health

The chairman and director of troubled GCC operator NMC Health, HJ Mark Tompkins, has stepped down. He has been replaced by Faisal Belhoul.

Tompkins, who had been chairman since before the company’s IPO in 2012, has suffered from ill health over the past few weeks. The company said that this had prevented participation in board activities. He has stepped down with immediate effect.

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‘This decision was taken as a result of the difficult period which NMC has faced and a desire of the remaining board members to focus on the challenges ahead for the company,’ NMC said.

The appointment of Faisal Belhoul has been made because a chairman present in the UAE would be appropriate, the company said.

Belhoul is a founder and current chairman of Ithmar Capital Partners.

He is also a founder and former chairman of one of the GCC’s largest integrated healthcare and education publicly listed investment companies, Amanat Holdings. He was previously a board member of Al Noor, the FTSE 250 healthcare company, whose listing Belhoul led in London in 2013.

‘Faisal’s experience and local contacts will be of great value to the company in its present circumstances,’ said Michael Davis, interim CEO of NMC.

Earlier this week, NMC uncovered that its debt position had grown to US$6.6bn from the previously estimated US$5bn on 12 March.