NMC Health founder eyes a return to embattled group | Financial Times:
The founder of NMC Health is looking to buy out his Emirati partners and return to an “active leadership position” at the embattled hospital group, according to people briefed on his plans.
The 77-year-old Indian-born entrepreneur BR Shetty is conducting an operational review of NMC ahead of formal talks to explore various options with shareholders and regulators, these people said.
Shares in NMC, which owns and operates hospitals in the Middle East, have fallen more than 60 per cent since short-seller Muddy Waters last year questioned its asset values, cash balance and debt levels. The claims have been rejected by NMC, which has appointed former FBI director Louis Freeh to carry out an investigation into the allegations.
Mr Shetty stepped down as NMC’s chief executive in 2017 but remains one of the largest shareholders with a 15 per cent stake. On top of the NMC share price decline, he has also been hit by a sharp decline in the value of his other main business, financial services group Finablr, which has fallen more than 60 per cent in the past few weeks.
No comments:
Post a Comment