SCANDAL-RIDDEN healthcare company NMC Health said yesterday it had appointed a string of heavyweight advisers for talks with its lenders.

NMC said it had hired investment bank Moelis & Co to act as an independent financial adviser, Big Four firm PwC to advise on operational issues and Magic Circle law firm Allen & Overy as its legal adviser. Last week the Financial Conduct Authority announced it was launching an investigation into NMC just hours after trading in its shares was suspended.

The company's shares have lost more than half of their value since the end of last year when shortseller Muddy Waters questioned its financial statements.

NMC said Moelis & Co would support its discussions with its lenders, while PwC will assist with "liquidity management and operational measures".

It emerged last night that NMC has since entered last-ditch talks to prevent banks demanding a $2bn (£1.6bn) loan repayment at the end of this week, after staff in its hospitals are said to have been left unpaid following a delayed deadline.

Lenders could call in debts as soon as Friday, the Telegraph reported, as three of NMC's major shareholders hold less than 30 per cent of the firm's stocks, meaning a "change of control" clause could be triggered.

(c) 2020 City A.M., source Newspaper