NMC Health PLC (LON:NMC) saw its shares recover slightly on Wednesday as it rebutted Tuesday’s broadside from short-seller Muddy Waters.
The private hospital operator said accusations made in a report by the short-seller, which included concerns about its financial statements, were “principally unfounded, baseless and misleading, containing many errors of fact”.
READ: NMC Health shares tumble 23% after short seller Muddy Waters takes aim
“The Company has a track record of significant, open and increasingly detailed disclosure to the market, as monitored and reviewed by its entirely independent disclosure committee”, the firm added.
In a separate announcement, NMC said it was beginning a US$200mln (£153mln) share buyback programme which will end no later than 30 June 2020.
The news sent the shares up 3.1% to 1,801p in early deals, however, they are still well off their 2,585p level prior to the Muddy Waters broadside.