MUSCAT: NMC Health, the largest hospital group in GCC has removed Chief Executive Prasanth Manghat with immediate effect and granted its finance chief extended sick leave, as more details emerge from an investigation into the UAE healthcare firm’s finances, news agency Reuters reported on Thursday.
The Abu-Dhabi based health care group said after Wednesday’s market close at the London Stock Exchange that it had appointed Chief Operating Officer Michael Davis as interim CEO to succeed Manghat and said Chief Financial Officer Prashanth Shenoy had been placed on longer leave.
Manghat had been with NMC for about 10 years in various roles, including deputy CEO and CFO.
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The moves are the latest blow for the firm whose shares have lost about two-thirds of their value since U.S.-based short-seller Muddy Waters late last year questioned its financial statements.
