Oh ho

Britain’s sickest corporate patient has taken another turn for the worse. In a series of quick-fire announcements after the markets closed, NMC Health sacked its boss, suspended a member of its treasury team and granted “extended leave” to its finance chief after uncovering a series of financial discrepancies.

The FTSE 100 Middle East hospital operator entered the sick bay in December after its value halved in one day following a short-selling attack by Wall Street raider Muddy Waters.

Short sellers would appear to have some value then. Flushing out – to the profit of the short sellers – the admission that there’s dodginess going on.

Even if you’re not prepared to admit that a 2 months heads up on it is useful, no?

2 thoughts on “Oh ho”

  1. One of the oddest things about this situation is the confusion over how many shares were owned by 2 of the directors…. Which implies an inaccurate share register…. Which is an offence. Just what were the auditors doing?

  2. NMC Health is a UAE company, some financial discrepancies to be expected

    Recently used them:
    NHS vs Private – CT scan of wrist at an Aspen clinic

    Fast: in and out in <15 minutes
    Nice decor and furniture
    Free parking, coffee etc and biscuits
    Smart friendly staff who put patient before chatting to each other
    No fat staff

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