Directors of hospitals and health systems have a right — and perhaps also an obligation — to be anxious about current economic and public health developments. It is an anxiety that senior executive leadership should recognize, and try to address proactively, for the sake of effective board/management relationships...
A Pennsylvania federal judge has dismissed a shareholder lawsuit against several of Universal Health Services' top executives and directors. Shareholders began filing derivative lawsuits against King of Prussia, Pa.-based UHS in 2017 after Buzzfeed News reported that UHS psychiatric hospitals kept patients longer than necessary and against their will to maximize reimbursement from insurers...
The University of North Carolina System board chair is not concerned over reports that former UNC Health Care System CEO William Roper, MD, failed to disclose potential conflicts of interest on state ethics forms, according to The News & Observer . Dr. Roper is interim president of UNC. A report from local news station WBTV found Dr. Roper did not disclose his corporate board involvement in forms filed between 2011 and 2019...
Athenahealth co-founder and former CEO Jonathan Bush called out activist investment firm Elliott Management for its role in influencing the sale of the company during an interview with CNBC 's "Squawk on the Street" Dec. 12. In May 2017, about a year before athenahealth's decision to sell itself, Elliott purchased a 9.2 percent stake in the company...
Top executives and board members at Camp Hill, Pa.-based Rite Aid face an uncertain vote from shareholders during their annual meeting Oct. 30 amid the company's plummeting stock value and failed mergers, according to Forbes . The company's CEO John Standley, six board members and three recently appointed independent directors are up for election Oct. 30 during Rite Aid's annual stockholders meeting in New York...
Two shareholders are requesting Cardinal Health's executive pay not be insulated from legal costs associated with ongoing opioid litigation, according to a Sept. 26 proxy statement . Cardinal Health is facing over 300 lawsuits from local and state governments for its role in distributing painkillers...
Bain Capital and Elliott Management have teamed up as the frontrunner in the race to acquire athenahealth, the New York Post reports. Elliott, an activist investor known for its aggressive pursuits of companies it wants to acquire, made an unsolicited takeover bid to buy the health IT company in May...
McKesson CEO John Hammergren will take a 10 percent pay cut in fiscal 2018 as the company faces a shareholder lawsuit for allegedly failing to audit controls for opioid-based painkillers, according to Bloomberg . The lawsuit was filed in 2017 by shareholder Chaile Steinberg against former and current McKesson executives and directors...
Tenet Healthcare's CEO Ronald A. Rittenmeyer made $5,200,001 last year, according to a recent proxy statement. Mr. Rittenmeyer became CEO Oct. 23, 2017, after Tenet's longtime leader Trevor Fetter stepped down from the role and resigned as a director of the company...
The directors of Nashville, Tenn.-based HCA Healthcare voted last week to allow established investors to participate in the board seat nomination process, according to a filing with the Securities and Exchange Commission. The company added a provision to its amended bylaws to allow an individual stockholder or a group of up to 20 stockholders who have owned at least 3 percent of HCA's common stock for at least three years to nominate directors...
Women elected to corporate boards tend to have more experience in risk management and human resources than their male counterparts—a boon for corporate governance, a recent study says. In fact, according to the research, women board members were likely to bring a half-dozen skills important to decision making that weren't well-represented on their boards before ...