Here’s how Group Health execs gamed the merger vote.
Group Health Cooperative has over 600,000 members. But to vote for (or against) the proposed merger with Kaiser Permanente, they have to register to vote at least 60 days before the special meeting. Only 4.5% of members are registered, and Group Health set a date for the special meeting 57 days after the public announcement of the merger, which means it’s too late for the other 95.5% of the members to register and vote. Read the story here.
Group Health’s bosses tell us the merger is a good deal. But it looks like they don’t trust the members, and are taking no chances they might vote “no.” On its face, this stinks to high heaven.