Health Management Associates Engages Firms in Connection with Accumulation of Shares by Glenview Capital Management
Board Continues Search for New CEO
NAPLES, Fla.--(BUSINESS WIRE)-- Health Management Associates, Inc. (NYSE: HMA) confirmed today that its Board of Directors has engaged Morgan Stanley & Co. LLC and Weil, Gotshal & Manges LLP in connection with the accumulation of shares by Glenview Capital Management, LLC, as well as the Boards ongoing consideration of strategic alternatives and opportunities available to HMA. HMA does not intend to disclose developments with respect to the foregoing until such time as the Board deems further disclosure appropriate.
In addition, as previously announced, a committee of the Board, comprised of Kent P. Dauten, Donald E. Kiernan, Robert A. Knox and William J. Schoen, has been formed to lead a search for potential candidates to replace Gary Newsome, who will be retiring effective July 31, 2013. This committee currently is interviewing, and will continue to identify and interview, potential candidates for the position to ensure a smooth transition from Mr. Newsome.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as expects, estimates, projects, anticipates, believes, intends, plans, may, pending, continues, should, could and other similar words. All statements addressing operating performance, events or developments that Health Management Associates, Inc. expects or anticipates will occur in the future, including but not limited to projections of revenue, provisions for doubtful accounts, income or loss, capital expenditures, debt structure, principal payments on debt, capital structure, the amount and timing of funds under the meaningful use measurement standard of various Healthcare Information Technology incentive programs, other financial items and operating statistics, statements regarding our plans and objectives for future operations, the impact of changes in observation stays, our ability to achieve process efficiencies, factors we believe may have an impact on our deductibles and co-pays, acquisitions, acquisition financing, divestitures, joint ventures, market service development and other transactions, statements of future economic performance, statements regarding our legal proceedings and other loss contingencies (including, but not limited to, the timing and estimated costs of such matters), statements regarding market risk exposures, statements regarding the effects and/or interpretations of recently enacted or future health care laws and regulations, statements regarding the potential impact of health care exchanges, statements of the beliefs or assumptions underlying or relating to any of the foregoing statements, and statements that are other than statements of historical fact, are considered to be forward-looking statements.
Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Health Management Associates, Inc.s most recent Annual Report on Form 10-K, including under the heading entitled Risk Factors. Should one or more of these risks or uncertainties materialize, or should any of Health Management Associates, Inc.s underlying beliefs or assumptions prove incorrect, actual results could vary materially from those currently anticipated. In addition, undue reliance should not be placed on Health Management Associates, Inc.s forward-looking statements. Except as required by law, Health Management Associates, Inc. disclaims any obligation to update its risk factors or to publicly announce updates to the forward-looking statements contained in this press release to reflect new information, future events or other developments.
Health Management Associates, Inc.
MaryAnn M. Hodge, 239-598-3131
Vice President, Marketing & Communication
Source: Health Management Associates, Inc.Copyright Business Wire 2013