Dubai: An immediate priority for Michael Davis, confirmed as interim CEO at NMC Health, could be a major restructure of the company. He’s got the credentials to make it happen.
“On the operational side, Davis is someone who brings a lot of background and which he put to good use as Chief Operating Officer,” said a senior source within the company. "In the coming days, external consultants could be confirmed to help with the restructure process.”
But the question is whether the company should wait until an internal investigation of recent decisions taken by principal shareholders such as NMC’s founder Dr. B.R. Shetty is complete. There is also the small matter of reconstituting the Board of Directors, which has been hit by resignations and forced removals. Of the 11 member Board, only six are there now.
In the UAE, the NMC group employs around 16,000 people.
The company also runs the risk of being hit by legal actions from multiple quarters. And then there is all the talk of NMC being a potential takeover target.
The Davis mandate
This is where Davis can offer a compelling direction. He relocated to the UAE in 2013 to join TVM Healthcare MENA, a private equity fund that specialises in healthcare-related investments. He also held the position of CEO of ProVita International Medical Center, a long-term acute care provider, which NMC acquitted in August 2015.
Davis had been reporting to the senior leadership of NMC Health since then and moved to the company’s corporate strategic leadership team in June 2017 to be the Chief Operating Officer.