The Telegraph Herald reports five former Grand River Medical Group physicians are suing the local health care provider in an attempt to temporarily halt its sale to Unity Point Health.
All five are shareholders in the company and are seeking an injunction on the sale until or unless the company respects their buyout rights. Each of the physicians resigned from employment with Grand River Medical Group within the past year.
The lawsuit alleges Grand River Medical Group’s board of directors focused on maximizing value for employed shareholders in pursuing a corporate transaction but did not consider the best interest of shareholders no longer working there.
A hearing on the application for a temporary injunction has been set for March 27.
UnityPoint Health marketing and communications specialist Amanda Munger told the T-H the pending litigation would not interfere with their commitment to ensure a smooth transition.
The sale of Grand River Medical Group to Unity Point Health was announced February 28th.
