Just over a month after announcing it would be divesting its radiology business, healthcare services provider Mednax said it is appointing a new CEO and replacing five members of the company's board.
Mednax said that CEO and founder Dr. Roger Medel would be leaving the company, to be replaced by Mark Ordan. Ordan from 2016 to 2018 served as CEO of Quality Care Properties, a real estate company that focused on postacute skilled nursing and memory care/assisted living properties. He was also CEO of Sunrise Senior Living from 2008 to 2013 and CEO of real estate investment trust (REIT) Washington Prime Group from 2014 to 2015.
In addition to Ordan's appointment, Mednax announced that five members of the company's board would be replaced. The new slate includes Ordan, Thomas McEachin, Guy Sansone, John Starcher, Jr., and Shirley Weis.
The changes are part of an agreement that Mednax reached with Starboard Value, which owns almost 10% of Mednax. In exchange for the moves, Starboard has agreed to withdraw its own nominations for the board and support the new slate of directors.
Mednax announced in June that the company planned to sell off its radiology business and instead focus exclusively on pediatrics and obstetrics services.
