October 1, 2018 / 8:08 AM / 2 months ago

Britain's BMI Healthcare agrees financial restructuring deal

Oct 1 (Reuters) - Britain’s largest private healthcare group, BMI Healthcare, said on Monday that it had agreed on a financial restructuring which would include a major recapitalisation of its business.

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

The deal would include a capital injection of at least 58 million pounds ($75.67 million) into the company, an extension of BMI’s bank facilities to 2024 and a 65 million pound annual reduction in rent, BMI said in a statement. ($1 = 0.7665 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; editing by Louise Heavens)

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