Health Care International finds a buyer

January 18, 1995

An investment group based in Abu Dhabi has agreed in principleto take over Health Care International, the $290 million high-techScottish hospital that filed for receivership late last year (SCAN12/14/94). Abu Dhabi Investment Co. has agreed to buy the

An investment group based in Abu Dhabi has agreed in principleto take over Health Care International, the $290 million high-techScottish hospital that filed for receivership late last year (SCAN12/14/94). Abu Dhabi Investment Co. has agreed to buy the hospitaland operate it as a going concern, although details of the dealhave not yet been worked out.

HCI was conceived as a state-of-the-art health-care facilitybased near Glasgow that would cater to wealthy patients from Europe,the Middle East and North Africa. The project was unable to generateenough patient revenue and was forced to file for receivershiponly five months after opening.

Medical imaging vendors who sold equipment to HCI are followingthe negotiations over its future closely. A spokesperson for theLondon office of Arthur Andersen, the receiver for HCI, said allthe facility's medical equipment is still on site and that suppliersare cooperating fully.

Other parties are interested in HCI, but negotiations withthem have been postponed to allow the Abu Dhabi group to completethe purchase. The spokesperson said a deal should be completedby the end of January.