Shares in the parent company of a British private hospital operator have been suspended as an investigation into its finance practices continues.
NMC Health, which owns UK hospital group Aspen Healthcare, has also fired chief executive Prasanth Manghat with immediate effect.
NMC is focused largely on the United Arab Emirates, but operates 200 hospitals in 19 countries.
In the UK it operates eight clinics and hospitals, including its Cancer Centre in Wimbledon, South West London.
Manghat had been with NMC for about 10 years in various roles, including deputy CEO and CFO, and had seen the company through its 2012 listing on the London Stock Exchange.
The company said in a statement: “The board of NMC announces that the FCA has agreed to its request under Chapter 5 of the Listing for the temporary suspension of its shares to ensure the smooth operation of the market. The company is focused on providing additional clarity to the market as to its financial position and to restoring its admission to trading. The company will continue to be bound by listing, transparency and disclosure rules.”
Following concerns raised by investors about accounting practices, NMC opened its own investigation into company finances.
The review, which is being led by a former director of the US Federal Bureau of Investigation, is ongoing.