Glenview declines HMA board proposal for 'hybrid' board

theflyonthewall.com

Glenview Capital Management, which owns 14.6% of the common stock of Health Management Associates, through affiliated investment funds, issued the following statement regarding the announcement by HMA that it intends to propose adding Glenview nominees to form a hybrid HMA board: "Based upon broad feedback solicited from Shareholders both prior and subsequent to the launch of the consent solicitation process, as well as our own views, the case for a complete change of the Board is clear and the Democratic Process for Shareholders to vote is well underway. We believe the best and only settlement of the issue is to count the votes as they come in and allow Shareholders' voices to be heard. It would be inappropriate for Glenview to take any action which would circumvent Shareholders' rights in this consent solicitation. Glenview appreciates the Sitting Board's recognition that change is necessary and that it is the Sitting Board's responsibility to provide a smooth transition. Assuming that Shareholder consents cross the 50% threshold in the coming period, Glenview, and we presume all Shareholders, hope and expect that the sitting Board will act to ensure an immediate and orderly transition so that the work to Revitalize HMA may begin without delay."

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