Health Management Associates is prepared to invite some of Glenview Capital Management's proposed nominees onto its board of directors, but the hedge fund is rebuffing the offer for a “suboptimal hybrid” board.
The Naples, Fla.-based hospital chain issued a statement late Tuesday which said its board of directors plans to “propose immediately adding nominees put forth by Glenview to the HMA board.” The system also said it is prepared for one of Glenview's nominees to become chairman of the board. Its current chairman, William Schoen, has held that position since 1986.