Change in board members may result in problems in hospital merger

Officials say that An independent inspector will review and certify the validity of an investor’s statement that a majority of Health Management Associates stakeholders want the HMA board of directors replaced. HMA, a for-profit hospital chain, owns Gadsden’s Riverview Regional Medical Center as well as stringfellow memorial hospital in Anniston. Glenview Capital Management told HMA on Monday it had enough shareholder support for the change in board members. Glenview said it expects the transition to occur this week. Behind the polite words lies a tense battle whose aftermath may scuttle plans announced July 30 to sell HMA to Community Health Systems, the for-profit chain that owns Gadsden Regional Medical Center.The sale requires approval from 70 percent of shareholders. Modern Healthcare magazine, said Glenview wants a higher price than the $7.6 billion announced July 30. The $7.6 billion was to include CHS assuming about $3.7 billion of HMA’s debt.