Marilyn Tavenner, the former administrator of the Centers for Medicare and Medicaid Services, has resigned her seat on the board of LifePoint Health. Tavenner was named a director of the Brentwood-based company only this past April, but is stepping down to focus on her new job as CEO of America's Health Insurance Plans, one of the biggest trade groups in the health care sector.
William F. Carpenter III, Chairman and Chief Executive Officer of LifePoint Health, said, “On behalf of LifePoint, I want to congratulate Marilyn on her appointment as AHIP President and CEO. While this means we must lose her as a member of our Board of Directors, the healthcare industry remains very fortunate to have Marilyn as a leader during this time of change. She will play an important role in making communities healthier by providing continued leadership in the efforts to improve access to quality, affordable care for all Americans. Our board understands her need to focus on this new endeavor, and we wish her the very best.”
New York Stock Exchange officials have told Noranda Aluminum Holding executives that the slide in the company's share price to below $1 has put it in the listing standards doghouse. The Noranda team now has six months to get their stock back above $1 on a regular basis. To that end, they will host on Aug. 24 a special shareholders' vote on a 1-for-7 reverse split. Noranda shares (Ticker: NOR) rose more than 6 percent Tuesday to 56.5 cents.
Ronald Orol at The Street says activist investor Sandell Asset Management appears to hold a strong hand in its dealings with Brookdale Senior Living, which it wants to spin off its real estate. The New York-based investment firm, Orol writes, plans to add to its board presence next spring to try to force such a transaction unless Brookdale's directors act before then. And the pieces are in place for such action — as are two deep-pocketed potential buyers.
For HCP and Ventas, an acquisition of Brookdale or its assets would prevent the formation of a new rival. Any move by Brookdale to spin off its massive real estate holdings into a free-standing REIT would create new competition for HCP and Ventas in the health care REIT industry, people familiar with Sandell argue.
POSTDATA: WARRANTY DEEDS