HMA's Shareholder Battle Intensifies
This battle with Glenview comes on the heels of several other recent challenges for HMA.
In December 2012, CBS' "60 Minutes" aired a story in which former HMA employees accused the company of admitting patients for the sake of revenue rather than medical necessity. The company denies the allegations.
In May, HMA ratified a "poison pill"—a legal maneuver designed to thwart a hostile takeover by a large stakeholder—to prevent Glenview from seizing control of the company. Glenview has also filed documents with the SEC requesting that HMA amend the poison pill.
Also in May, president and CEO Gary D. Newsome announced plans to retire at the end of July to head a religious program in South America.
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