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NMC Healthcare: Insolvency

Treasury written question – answered on 20th May 2020.

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Photo of Kemi Badenoch Kemi Badenoch The Exchequer Secretary

NMC Health is a global organisation, with a large presence in the United Arab Emirates. However, its UK operational footprint is significantly smaller with few hospital beds and employees.

As UK administrators have a statutory objective to consider rescuing the company as a going concern, administrators can and do keep employees on to better facilitate a business rescue, as has happened with NMC’s UK operations. To support people through this crisis, the Government has announced temporary increases to Universal Credit and Local Housing Allowance and will make sure it protects, as far as possible, people’s jobs and incomes.

The circumstances leading up to NMC Health’s insolvency has triggered an investigation by the regulator, the Financial Reporting Council, so lessons can be learnt and appropriate action taken. However, it would not be appropriate for Government to comment on this ongoing investigation before its completion.

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