Tenet Healthcare formed an arrangement with Glenview Capital Management, granting two new board seats to Tenet's largest shareholders, according to Healthcare Dive.
Here are five points:
1. In exchange for the board additions, Glenview Capital Management agreed to not challenge Tenet's board or management at the next annual meeting.
2. Tenet added Randy Simpson and Matt Ripperger, partners and co-heads of healthcare for Glenview Capital Management, to its board of independent directors.
3. With the latest addition, Tenet will now have 12 board of director members.
4. The arrangement also allows Glenview to propose two additional board of directors. The additions would be independent of both Tenet and Glenview and subject to board approval, effective Jan. 31, 2017.
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