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Glenview's Larry Robbins Was Key Player in Tenet-Vanguard Deal

Larry Robbins has become one of the most powerful people in healthcare during the past year, and he played a key role in several major health system transactions.

Mr. Robbins heads Glenview Capital Management, a New York City-based hedge fund. Glenview holds major stakes in several investor-owned hospital companies, including Franklin, Tenn.-based Community Health Systems, Naples, Fla.-based Health Management Associates, Brentwood, Tenn.-based LifePoint Hospitals, Dallas-based Tenet Healthcare Corp. and Nashville, Tenn.-based Hospital Corporation of America.

Glenview was influential last year, most famously for its role in shaking up Health Management's leadership and smoothing out a merger between Health Management and CHS.

However, it appears Mr. Robbins was also on the frontlines of Tenet's deal to acquire Vanguard Health Systems. According to a Bloomberg Businessweek report, Mr. Robbins previously spoke with Tenet CEO Trevor Fetter, suggesting that "he borrow money to repurchase stock and consider making acquisitions." By October, Tenet closed on its purchase of Vanguard, paying $1.8 billion in cash and assuming $2.5 billion of Vanguard's debt.

"Tenet did the logical thing," Mr. Robbins told Bloomberg.

More Articles on Hospital Transactions:
HMA Shareholders Approve Merger With CHS
Baylor Scott & White Affiliates With For-Profit RegionalCare Hospital
For-Profit Hospital Stocks in 2013: The Year in Review

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