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NMC Health publishes further material against Muddy Waters’ allegations

The FTSE 100-listed company confirmed that the NMC Royal Women's Hospital has a total floor area of 18,595 square metres

NMC Health PLC - NMC Health publishes further material against Muddy Waters’ allegations

NMC Health PLC's (LON:NMC) battle to refute allegations made earlier this month by short-seller Muddy Waters did not let up ahead of the New Year holidays.

In a further statement on Friday, the FTSE 100-listed firm - which is still smarting over allegations made by Muddy Waters about suspiciously high development costs for Brightpoint Hospital - said it had received a letter from STH Consultant, the engineering consultant for the development of NMC Royal Women's Hospital (the new name for Brightpoint), confirming the total built-up floor area of the hospital is 18,595 square metres.

READ: NMC Health tug of war continues as firm moves to further refute allegations made against it by Muddy Waters

It also said it has made available on its website the floor plans of the project which were approved by the Health Authority of Abu Dhabi.

In a report published earlier this month, Muddy Waters alleged that NMC - which operates hospitals in the United Arab Emirates - has been investing in large assets at costs “too high to be plausible”, prompting “concerns about fraudulent asset values and theft of company assets.”

Shares in NMC Health dipped 1% to 1,770p on Friday continuing a volatile recent performance.

Quick facts: NMC Health PLC

Price: 1000 GBX

Market: LSE
Market Cap: £2.09 billion

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