HMA Shareholders Oust Board
Glenview Capital Management, a hedge fund that owns 14.6 percent of Health Management Associates, says it has captured the votes of a majority of shareholders to oust the board of the Naples-based hospital chain.
As Bloomberg Businessweek reports, this throws the planned merger of HMA and Community Health Systems Inc. into question; however, Community Health says it still intends to acquire HMA. The merger would create the nation's largest hospital chain.
Glenview said the next step is for the current HMA board to review the votes and conduct a transition later this week.
In the Lakeland Ledger, reporter Robin Williams Adams reports on how the HMA upheaval may affect hospitals in Polk County.