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NMC Health Plc (NMC)

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Friday 17 January, 2020

NMC Health Plc

Independent review investigators

RNS Number : 1388A
NMC Health Plc
17 January 2020

17 January 2020


NMC Health Independent Committee Retains Former FBI Director Louis Freeh to Conduct Independent Investigation


NMC Has Previously Called Assertions Made by Short Sellers 'Unfounded, Baseless and Misleading'.


The Independent Review Committee ("the Committee") formed by NMC Health plc (LSE: NMC), the leading private healthcare operator in the Gulf Cooperation Council (GCC) with international services across 19 countries, announced that it has retained Louis Freeh, former Federal Judge and FBI Director, and his firm Freeh Group International Solutions, LLC ("FGIS"), to examine and compile a report regarding allegations raised in the 17 December 2019 report from short seller Muddy Waters and by certain other third parties.


"The Committee chose Freeh Group to provide a completely independent, unbiased, comprehensive and transparent report that will address all of these allegations," said Jonathan Bomford, Chairman of the Independent Review Committee.


FGIS is a global risk management firm serving in the areas of business integrity and compliance, safety and security, and investigations and due diligence. FGIS was founded by Louis Freeh, former director of the U.S. Federal Bureau of Investigation (FBI) and former federal judge. In addition to Judge Freeh, the management team of FGIS includes former senior law enforcement officials, legal consultants, accountants, and security and compliance experts.


As previously announced, the Committee is undertaking an independent review of all allegations, focusing initially on confirmation of the Group's cash balances as at 15 December 2019. The Committee intends to publish findings of the review into all primary allegations made, particularly all those of a financial nature, in advance of the release of the Company's 2019 financial results.


In the meantime, NMC remains focused on our business, strategy and wider stakeholders and on continuing to generate long-term returns and value for our shareholders.







Asjad Yahya, Investor Relations

+971 (0)56 219 0975


About NMC Health


NMC is one of the leading private healthcare operators in the Gulf Cooperation Council ("GCC") with an international network of multi-specialty inpatient and outpatient clinics and hospitals, specialized maternity and fertility clinics, and long-term care homes hospitals across nineteen countries. NMC also ranks as one of the top two in-vitro fertilisation operators globally. The NMC Health group is recognised as a leading provider of long-term medical care in the UAE through its subsidiary ProVita. Pursing a selective international expansion programme since 2016, NMC has total capacity of 2,207 licensed beds across its network. Moreover, the recent formation of a joint venture with GOSI/Hassana Investment Company provides a solid platform for continued growth in the GCC region's largest healthcare market. The NMC Health group treated over 7.5 million patients in 2018. The NMC Health group is also a leading UAE supplier of products and consumables coming from healthcare related products. NMC reported revenues of US$2.1 billion for the year ended 31 December 2018.


In April 2012, NMC was listed on the Premium Segment of the London Stock Exchange. NMC is a constituent of the FTSE 100 Index.

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