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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.