trending Market Intelligence /marketintelligence/en/news-insights/trending/h7HBV7D619Pwr8v10QZaoQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

UPDATE: Activist investor Starboard nominates directors to Mednax board

Blog

Needham & Company is Now Available in the S&P Global Market Intelligence Aftermarket Research Collection

Blog

Banking Essentials Newsletter - February Edition

Blog

Message in a (Word)Cloud

Six trends shaping the industries and sectors we cover in 2021


UPDATE: Activist investor Starboard nominates directors to Mednax board

Mednax Inc. said Starboard Value LP has nominated a majority slate of directors for the company's board.

The activist investor is also urging Mednax to sell the entire company or part of itself, The Wall Street Journal reported, citing people familiar with the matter.

In a Dec. 11 Form 8-K filing, Mednax said it already met with Starboard as a new shareholder. The company noted that it welcomes a constructive dialogue with the investor.

S&P Global Ratings in October downgraded the company's long-term issuer credit rating to BB from BBB- on weak performance.

The same month, the company agreed to sell its MedData LLC unit to private equity firm Frazier Healthcare Partners to focus on its core physician services business and significantly reduce leverage and future capital expenditures.

Sunrise, Fla.-based Mednax has a market capitalization of $2.06 billion.