Larry Robbins' hedge fund Glenview Capital has filed an amended 13G and 13D with the SEC regarding their positions in Community Health Systems (CYH) and Health Management Associates (former ticker HMA).
On January 27th, CYH announced it had completed its acquisition of HMA. As such, Glenview received over 2.6 million shares of CYH in exchange for its 37.7 million shares of HMA at an exchange rate of 0.06942 CYH shares per each share of HMA owned (and adjusted for cash received in lieu of the fractional shares).
As a result of this transaction, Glenview now owns over 12 million shares of CYH, or 10.67% of the company.
Glenview has bet big on hospitals and profited handsomely from their wagers as a whole. For more portfolio activity from this hedge fund, click here.
Thursday, January 30, 2014
Glenview Capital Updates Community Health Systems Stake
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