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Tenet board loses Glenview members

Tenet board loses Glenview members

Glenview could soon acquire a larger stake in Tenet and push for change as an activist shareholder, as it vowed to do 19 months ago. The hedge fund said it could effect change more efficiently outside of Tenet than inside the boardroom.

Chen's 22% CHS stake carries clout - with or without a board seat

By Dave Barkholz  |  August 17, 2017
Chen's 22% CHS stake carries clout - with or without a board seat

Chinese billionaire Tianqiao Chen as recently as February used his 10% stake in Legg Mason to gain two board seats at the asset-management firm, including the vice chairmanship for himself. His designs for CHS haven't been made public but he already carries weight with his holdings.



Providers

Cleveland Clinic will pull event from Mar-a-Lago resort

Cleveland Clinic will pull event from Mar-a-Lago resort

A leading U.S. hospital pulled its annual fundraiser from Donald Trump's Mar-a-Lago resort on Thursday, reversing course after initially resisting pressure from health professionals and others over the president's support for repealing the Affordable Care Act and cutting federal research dollars.

Insurance

New York approves 14.6% rate hike for health plans

Although insurers asked for a 17.7% increase, New York's Department of Financial Services approved a 14.6% bump as it factored in the potential loss of cost sharing–reduction payments that insurers use to cover out-of-pocket expenses for lower-income consumers.

People

UnitedHealth CEO Hemsley stepping down

UnitedHealth CEO Hemsley stepping down

Longtime UnitedHealth CEO Stephen Hemsley will step down Sept. 1, and President David Wichmann will take over. The change marks a major leadership shakeup at the nation's largest health plan.

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