UAE's Ministry of Health denies any communication with Muddy Waters

UAE's Ministry of Health denies any communication with Muddy Waters
UAE's Ministry of Health denies any communication with Muddy Waters

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Aden - Yasmine El Tohamy - The UAE's Ministry of Health and Prevention has denied speaking to Muddy Waters as mentioned in their report on NMC Healthcare.

In a statement, the ministry stated that no such communication took place. It added that the role of the ministry is to regulate and supervise the country's healthcare sector, stating it supports the important role that private healthcare companies play in the UAE.

 

Last week, NMC dismissed allegations made by the US-based short-seller Muddy Waters as baseless, and said it stood by its forecasts for 2019 and 2020.

The Abu Dhabi-based conglomerate, founded by billionaire Indian businessman BR Shetty, also announced a share buyback in a bid to reassure investors after a report from the short-selling firm wiped a third off the group's market value.

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