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BMI Healthcare agrees financial restructuring deal

Britain’s largest private healthcare group, BMI Healthcare, said on Monday it had agreed a deal with its creditors and landlords that would include recapitalising the business.

Hospital Topco, the parent company of the landlords for 35 of BMI Healthcare’s hospitals, as well as stakeholders and lenders, agreed to a deal which would bring BMI’s operations and 35 hospitals back under common ownership, BMI said.

The deal included injecting capital of at least 58 million pounds, extending BMI’s bank facilities to 2024 and reducing annual rent by 65 million pounds, BMI said.

BMI said in a statement that contributions from the deal would fund a 250 million pound capital investment programme.

Full Story: Reuters, 1 October 2018

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