NMC Health ropes in Freeh in review of Muddy Waters report

NMC Health announced on Friday that its independent review committee has retained Louis Freeh, former US federal judge and FBI director, and his firm Freeh Group International Solutions (FGIS) to examine and compile a report regarding allegations raised in the 17 December report from short seller Muddy Waters, and by certain other third parties.

The FTSE 250 company described FGIS as a global risk management firm, serving in the areas of business integrity and compliance, safety and security, and investigations and due diligence.

It was was founded by Freeh, with its management team including former senior law enforcement officials, legal consultants, accountants, and security and compliance experts.

As it had previously announced, NMC said the committee was undertaking an independent review of all allegations, focusing initially on confirmation of the group's cash balances as at 15 December.

The committee was intending to publish findings of the review into all primary allegations made, particularly those of a financial nature, in advance of the release of NMC Health’s 2019 financial results.

In the meantime, the firm said it remained focused on our business, strategy and wider stakeholders and on continuing to generate long-term returns and value for our shareholders.

"The committee chose Freeh Group to provide a completely independent, unbiased, comprehensive and transparent report that will address all of these allegations," said independent review committee chair Jonathan Bomford.

At 0855 GMT, shares in NMC Health were up 6.24% at 1,531.80.