(Bloomberg) -- NMC Health Plc founder Bavaguthu Raghuram Shetty hired Houlihan Lokey Inc. to restructure the debt of his holding company, which includes the hospital operator and financial services firm Finablr Plc.

The investment bank will work with BRS Ventures Investment, which holds about 30 companies Shetty helped found, to revamp all of its debt, according to people with knowledge of the matter. The borrowing includes a loan of about $1 billion that was used to acquire Travelex Holdings Ltd., the people said, asking not to be identified because the matter is private.

Representatives for BRS Ventures and Houlihan Lokey declined to comment.

Shetty this week resigned from the board of NMC amid investor concern he faced a margin call and misrepresented his stake in the hospital operator. Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request.

NMC operates the largest medical network in the United Arab Emirates and in 2012 became the first Abu Dhabi company to list in London. Shares in the company have plunged since Muddy Waters Capital LLC released a report criticizing its accounts in December and the firm is now the focus of takeover speculation.

Carson Block’s Muddy Waters has alleged that NMC’s financial statements hint at potential over payment for assets, inflated cash balances and understated debt. NMC has called those claims unfounded.

BRS Ventures, based in the United Arab Emirates, doesn’t report consolidated financials, preventing a complete analysis of his net worth. Shetty’s other assets include a catering company, a waste-management firm and pharmaceutical business Neopharma, which four months ago was in the early stages of planning for an initial public offering.

(Adds detail on NMC in fifth paragraph)

To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net;Archana Narayanan in Dubai at anarayanan16@bloomberg.net;Nicolas Parasie in Dubai at nparasie1@bloomberg.net

To contact the editors responsible for this story: Stefania Bianchi at sbianchi10@bloomberg.net, Michael Gunn, Adveith Nair

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