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Article: Grace to spin off division Plan would leave Hampers at helm of National Medical
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- June 15, 1995
- Author:
CopyrightCopyright 1995 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Capping months of turmoil and uncertainty, W.R. Grace & Co.'s
board of directors yesterday agreed to spin off National Medical Care
Inc., Grace's Waltham-based subsidiary.
The plan will leave Constantine "Gus" Hampers at the helm of a
newly independent National Medical Care, a company that Hampers, as
chief executive, transformed into the world's largest dialysis
provider. As part of the transaction, Hampers is expected to secure
a three-year contract as chairman and chief executive of National
Medical once the spinoff is concluded in the fourth quarter.
The decision to keep Hampers has turned defeat into a partial
victory for Hampers. He lost his bid to be Grace's chief executive
when ...