December 23, 2019 / 7:38 AM / in 2 months

UAE's NMC Health to begin independent review of financials

Dec 23 (Reuters) - NMC Health Plc said on Monday it had launched an independent review of its books, less than a week after U.S. short-selling firm Muddy Waters criticised the healthcare 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. (Reporting by Pushkala Aripaka in Bengaluru; Editing by Subhranshu Sahu)

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