Glenview Capital Says Case For Complete Change Of HMA's Board Is Clear

(RTTNews) - Glenview Capital Management LLC, which owns 14.6 percent of Health Management Associates, Inc. (HMA) through affiliated investment funds, Wednesday said in a statement that the case for a complete change of HMA's Board is clear and the democratic process for shareholders to vote is well underway.

Glenview issued the statement after the announcement by HMA that it intends to propose adding Glenview nominees to form a hybrid HMA Board. It declined the sitting board's proposal for a sub-optimal "Hybrid" board.

''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 said.

Glenview noted that the fresh alternative slate of eight nominees is complete in its skills covering a broad range of areas of expertise directly relevant to the current challenges and opportunities at HMA.

An entirely new board would be high-functioning, combining extensive industry experience with a fresh perspective unburdened by legacy decisions, it added.