StockMarketWire.com - Hospital operator NMC Health said it would commence an independent review to assess assertions made against the company by 'certain third parties'.

The announcement came after the company's shares were buffeted by a research note from short seller Muddy Waters that questioned the strength of its balance sheet.

NMC had already issued a detailed rebuttal of the claims. On Monday, it said it was disappointed by the 'very material' and 'unwarranted' fall in its share price.

The independent review would be conducted by an outside accounting firm and overseen by a committee comprising independent non-executive directors of the company.

'We are confident that this review, when complete, will be entirely confirmatory of the disclosures provided by the company to date,' NMC Health said.

'We will also be progressing relevant legal and regulatory options following the actions taken by third parties to mislead the market and manipulate the share price.'

'The company believes that the current share price is not a fair reflection of the value of the company which has a consistent track record of strong growth and cash generation. '

'We will keep investors updated as we progress these initiatives in the coming weeks.'

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