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Article: Martin's back in the game;Ex-New American exec, freed from noncompete deal, set to buy hospitals for new company.(Robert Martin forms HealthStar Corp.)
- Article from:
- Modern Healthcare
- Article date:
- May 8, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The former chief executive officer of a bankrupt hospital chain wants to parlay his old company's financial woes into a fresh start for his career.
Robert Martin, 51, founded New American Healthcare Corp. in 1995 but resigned as CEO and director of the company on Feb. 22, 1999.
Nashville-based New American filed for bankruptcy last month and announced its intentions to divest all eight of its hospitals (April 24, p. 6).
At the time of his resignation, Martin signed a severance and "noncompete" agreement that prevented him from buying multiple hospitals or trying to hire employees away from New American, he said.
But when New American ...