HMA Chief to Step Down as Glenview Denies Takeover Bid
Gary D. Newsome (Photo credit: Health Management Associates)
In the latest twist for Health Management Associates, the for-profit hospital operator's CEO, Gary D. Newsome, announces he will retire in July. Last week HMA moved to block a takeover bid by filing a shareholders' rights plan.
Just days after launching a shareholders' rights plan to protect Health Management Associates Inc. from a perceived takeover, CEO and President Gary D. Newsome announced Tuesday afternoon that he will retire in July to pursue missionary work in South America.
"I am proud of our accomplishments over the past five years as we've transformed Health Management into a vibrant, innovative company that is well-positioned and on a clear path to great success," Newsome said in prepared remarks.
Newsome has been named by The Church of Jesus Christ of Latter-day Saints to serve as the president of its Uruguay-Montevideo Mission in South America, the HMA release said.
"My family and my faith have always been the most important parts of my life and it is a rare privilege to serve in Uruguay, a place that has remained in my heart since I served my first mission there more than 35 years ago," Newsome said. "I am sincerely grateful for the support I've received from the Health Management Board of Directors, management team, and our associates and physicians."