Our first edition of 2022 focuses on Healthcare and Life Sciences. It is a sector that will once again have the spotlight on it this year as we continue to tackle COVID-19 and its subsequent variants. While the pandemic continues to challenge the sector, governments across the region forge ahead with their plans to expand and upgrade healthcare systems and develop robust world-class healthcare infrastructure.
For the region, healthcare is a vital pillar in diversifying its economies, both locally and as medical tourism hubs. To underpin this, healthcare authorities across the region continue to implement frameworks and regulations that provide structure and accountability.
In this edition, you have unique access to great insights and expert commentary on a number of pertinent healthcare regulatory developments. You will find a topical mix of articles; for example, our lawyers discuss vaccines and returning to work during the pandemic. They take you through several other areas, including stem cell research in Bahrain, clinical research laws in Egypt, and Saudi medical device and pharmaceutical laws.Take a read of the edition
A consequence of the Coronavirus situation is the immediate financial impact on businesses caused by things such as contracts not being fulfilled, reduced customer footfall and increased costs due to having to find alternative suppliers. Many businesses will find their cashflows stressed for reasons completely outside of their control. Even if a force majeure can be proved (see above) and a business has a strong contractual right to claim for damages, businesses will need to ensure that they take steps to ensure they are around long enough to bring a claim.
Along with the other steps that can be taken as mentioned in this note such as reviewing credit and other insurance policies, we would recommend the following:
It is inevitable that some businesses will face severe financial difficulties, even insolvency, as a result of Coronavirus. Every business needs to be aware of the impact on its business and to the extent that external funding is involved, it always pays to involve your lenders as early as possible to give them as long as possible to consider anything they can do to support you.