Abu Dhabi-based NMC Health plans an independent review of assertions from ‘certain third parties’ following allegations by short-seller Muddy Waters Capital that have hit the hospital operator’s share price, reported Bloomberg.
NMC has said those claims are unfounded. It has also denied a Financial Times article saying it planned to raise EUR 200 million ($222 million) of off-balance-sheet debt.
NMC stated that it believes the current share price is not an accurate reflection of the company’s value. The stock, which has lost almost half its value since Muddy Waters issued its report this month, traded three per cent higher in London.
The review, by an accounting firm, will be overseen by a committee made up of a majority of independent directors, said NMC.