Universal Health Services, Inc. to Purchase Alaska Behavioral Health Facility
KING OF PRUSSIA, Pa., Nov. 25 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. (NYSE: UHS) announced today it expects to purchase North Star Behavioral Health System. The System includes the 74-bed North Star Hospital and 34-bed North Star Residential Treatment Center in Anchorage, Alaska, and a nine-bed residential treatment center in Palmer, Alaska. The System has been the largest mental health provider in Alaska for the past 18 years and is the only provider in the state for inpatient and residential treatment for children under the age of twelve. The System generates approximately $20 million of revenue and has consistently operated profitably.
Debra Osteen, President of UHS's Behavioral Health Division, said, "We are pleased to be adding North Star to UHS's expanding behavioral health activities. North Star has a long, proud history of providing quality care to Alaskans and we look forward to not only continuing that tradition of excellence but investing to expand the services North Star can provide."
The transaction is expected to be completed on December 31, 2002 and is subject to normal regulatory and licensing requirements.
Universal Health Services, Inc. is one of the nation's largest hospital companies, operating acute care and behavioral health hospitals and ambulatory surgery and radiation centers nationwide, in Puerto Rico and in France. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE: UHT).
Certain statements in this release may constitute forward-looking statements and are subject to various risks and uncertainties as discussed in the Company's filings with the Securities and Exchange Commission. The Company is not obligated to update these forward-looking statements even if the Company's assessment of these risks and uncertainties changes.
For additional information on the Company, visit our web site: http://www.uhsinc.com.
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SOURCE Universal Health Services, Inc.
/CONTACT: Kirk E. Gorman, Chief Financial Officer, Universal Health Services, +1-610-768-3300/
/Company News On-Call: http://www.prnewswire.com/gh/cnoc/comp/916225.html/