Thursday, November 14, 2013

HMA board approves sale

The Nashville Post reported the HMA board approved the sale of the company to Community Health Systems:

The new board of directors at Health Management Associates — installed this summer by activist hedge fund manager Larry Robbins — has unanimously backed the company's planned $7.6 billion sale to Community Health Systems.

The vote comes after a wide-ranging review by the directors backed by Robbins' Glenview Capital, who took their seats in August. It removes one of the main obstacles to the completion of CHS' acquisition; the other remains in the form of a 70 percent shareholder approval. Shortly after the companies announced their planned deal in late July, Robbins said his board would look closely at the possibility of tweaking its terms to get more money for Glenview and other HMA investors.

In a statement this morning, HMA board Chairman Steve Shulman said his group supports not only the financial structure of the deal, but also the strategy behind combining forces with Franklin-based CHS to create a company that runs more than 200 hospitals. CHS Chairman, President and CEO Wayne Smith echoed that sentiment in his own statement this morning.... Article


Posted by Kingfish at 8:30 AM

6 comments:

Treasury agent said...

PERS hopefully owns shares in this hospital company as they have risen 40% this year. Is their any other way for the commonwealth to benefit from profitable healthcare? Ticker is CHY.

November 14, 2013 at 9:10 AM
Anonymous said...

AG Hood is also making noises suggesting a lawsuit against BC/BS is in the works.

November 14, 2013 at 9:54 AM
Anonymous said...

Healthcare should be a right for anyone who needs it, whether in the US or Timbuktu. Those who oppose that are less than humane.

November 14, 2013 at 3:59 PM
Anonymous said...

Tight buttholes and sweaty socks in the HMA executive suites for the holidays... Couldn't happen to a nicer bunch.

November 14, 2013 at 4:36 PM
Anonymous said...

Healthcare should be a right for anyone who needs it ...

Stupid Donkey, you already have the right to healthcare.

November 14, 2013 at 4:52 PM
bill said...

People who believe that money is just printed by the government and everything should be free are less than intelligent, but that, along with the post above, is not germane to the discussion. I hope the new owners will spend a little money to upgrade what needs to be upgraded so the metro area hospitals can better compete with the big boys.

November 15, 2013 at 8:20 AM

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In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.

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This is definitely a Beaver production.

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There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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