Posted 11/17/2023, 3:30:00 PM
Financial watchdog finds NMC Health misled markets by billions in hidden debts
- Financial watchdog found NMC Health misled markets by understating debt by up to £3.2bn
- NMC Health was a London-listed healthcare operator running hospitals in Middle East
- Shortseller report in 2019 raised questions about NMC's financial reporting
- NMC fired CEO in 2020, confirmed financial discrepancies, and went into administration
- Watchdog says NMC operated dual accounting records and investigation found investors misled