About Us

Archives






Health Management Associates Releases Communication Urging Shareholders Not to Respond to Glenview Consent Solicitation

Posted: June 29, 2013 at 6:47 am


NAPLES, Fla.--(BUSINESS WIRE)--

Health Management Associates, Inc. (HMA) today released a communication intended to update shareholders about issues regarding its Board of Directors.

Dear Fellow HMA Stockholder,

As you may be aware, Glenview Capital Partners, L.P. (Glenview)an investment vehicle controlled and managed by Larry Robbinshas commenced a process seeking to remove all of the current members of the Board of Directors (the Board) of Health Management Associates, Inc. (the Company). Glenviews plan is to replace the current Boardall of whom are independent except the CEOwith individuals selected solely by Glenview.

Glenviews timing is not in the best interests of stockholders since it comes a) less than two weeks after the Company publicly announced that we have engaged financial and legal advisors in connection with our ongoing consideration of strategic alternatives and opportunities available to the Company, and b) about a month after the Companys 2013 Annual Meeting of Stockholders at which all of the Companys directors were elected by stockholders. In our view, Glenviews actions are an unnecessary distraction to the Companys strategic review process and an attempt to advance its own agenda for the Company with its hand-picked nominees.

Notwithstanding Glenviews actions, we remain steadfastly committed to acting in the best interests of all of the stockholders of the Company. We will continue to discharge our duties in this regard by completing as quickly as possible our evaluation of the strategic alternatives and opportunities available to the Company. In so doing, our focus is on serving the best interests of all stockholders over the narrow interests of one, as well as ensuring that we honor our commitment to provide our patients and communities with vital services of the highest quality. As you would expect, we are considering all strategic alternatives and opportunities available to the Company, including those alternatives suggested by Glenview.

You should not permit Glenview to derail our strategic review process before you have had an opportunity to review the results. Because the written consent process would allow stockholders to act at any time, there is no need to take any action at this time in response to Glenviews consent solicitation.

In addition to evaluating all opportunities available to the Company to maximize stockholder value, we also are actively engaged in addressing the numerous challenges facing the Company and the health care industry.

Accordingly, we strongly urge you to allow us to complete our work for the benefit of all stockholders, and to take no action in response to the Glenview materials until you hear from us about the results of our work so that you can make a fully informed decision. Please do not allow Glenviews efforts to disrupt this process.

We look forward to updating you on our strategic review process over the course of the next few weeks.

Read this article:
Health Management Associates Releases Communication Urging Shareholders Not to Respond to Glenview Consent Solicitation

Related Post

No Comments

No comments yet.

Sorry, the comment form is closed at this time.