Bruce Japsen has written about healthcare business and policy for three decades. He has covered the rise, fall and rise again of health reform, chronicling trends that include the influence of Bill and Hillary Clinton to Barack and Michelle Obama from Chicago where he's based.
Capital Management, an activist investor that had been pushing for changes at the diversified healthcare giant. A sign hangs over the entrance to a CVS pharmacy in Santa Fe, New Mexico on January 9, 2020. CVS Health Monday said four new members will be added to its board from the hedge fund Glenview Capital Management , an activist investor that had been pushing for changes at the diversified healthcare giant.
A month ago, Glenview had been subject of certain media reports that it was pushing CVS management to break up the healthcare giant but the hedge fundSince then, David Joyner, who replaced Karen S. Lynch as CVS’ chief executive, has gave no indication a breakup was coming.
“We have the leading PBM, the best-run pharmacy in this country, a storied franchise through Aetna, and industry-leading healthcare delivery assets,” Joyner told analysts last weekOn Monday, Joyner said “adding four experienced thought leaders to our Board further sharpens our focus on executing against our strategy to build a world of health around every consumer, as we improve total cost of care and customer experience in health care.
Meanwhile, new board member and Glenview chief executive Larry Robbins said Glenview executives “appreciate the Board engaging with us on a cooperative basis that allows all energies to be productively dedicated towards further strengthening this iconic company.” “We welcome the opportunity to join the Board, roll up our sleeves and lock arms with the Board and leadership team to drive long-term, sustainable value through continued customer-centric offerings, commitment to compliance and quality, disciplined underwriting and risk management, aligned incentives, and optimal capital allocation,” Robbins said.Our community is about connecting people through open and thoughtful conversations.
Glenview Capital Management Hedge Fund
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