NMC Health PLC (LON:NMC) has discovered nearly US$3bn in debt that had not been previously disclosed to its board, raising doubts over its financial stability.
The troubled private hospital operator announced on Tuesday afternoon that it had identified over US$2.7bn in previously unknown debt facilities and its total debt was now estimated to be around US$5bn compared to US$2.1bn as at 30 June 2019.
READ: NMC Health calls for support as borrowings plunged into doubt
The company said it believed some proceeds of the facilities “may have been utilised for non-group purposes”.
“NMC is fully focused on safeguarding its operational liquidity to continue funding existing operations throughout its various subsidiaries and recently successfully completed the payment of its February payroll”, the firm added.