UAE’s NMC Health to begin independent review of financials

UAE’s NMC Health to begin independent review of financials

Author: Reutersarticle author: ReutersID: 1577086959252461700Mon, 2019-12-23 07:35

NMC Health Plc said on Monday it had launched an independent review of its books, less than a week after US short-selling firm Muddy Waters criticized the health care group's financials, triggering a major selloff in its shares.

The UAE-based firm said the third-party review would be undertaken by an accounting firm and would be overseen by a committee consisting of independent non-executive directors of NMC.

Muddy Waters last week questioned the value of NMC's assets and cash balance as well as its reported profits and debts in a research note.

Main category: Business & EconomyTags: UAENMC Health