KING OF PRUSSIA, Pa., Sept. 1 /PRNewswire-FirstCall/ -- Universal Health
Services, Inc. (NYSE: UHS) announced today that our hospital facilities
located in New Orleans and Chalmette, Louisiana suffered substantial water and
wind damage from Hurricane Katrina. Patients and staff at each of these
facilities have either already been evacuated or are in the process of being
evacuated. All facilities are currently without municipal power and telephone
service.
At this time, we cannot estimate the amount of property damage to these
facilities or when operations at these facilities will resume. We maintain
commercial property and business interruption insurance on these facilities,
however, we believe the unfavorable financial effect of the Hurricane, after
insurance proceeds, will be significant.
"The UHS organization has come together to provide exceptional support to
the patients in our care and to our own staff," stated Alan B. Miller, UHS's
Chairman and Chief Executive Officer. "We have contracted for helicopters and
supplied the hospitals ourselves to alleviate in small part the suffering in
their midst. We have been in communication to our facilities and will so
remain until everyone is accounted for and safely placed. In addition, we
have established the UHS Foundation to funnel funds to our employees in this
crisis."
We operate the following hospital facilities in the New Orleans and
Chalmette, Louisiana markets, which generated approximately 7% of our net
revenues for the six-month period ended June 30, 2005:
Methodist Hospital - located in New Orleans, Louisiana consisting of
Methodist Hospital, a six-story, 306-bed acute-care facility and
Lakeland Medical Pavilion, a two-story, 54-bed acute-care facility. The
majority of the patients at these facilities are expected to be
transported to other regional hospitals.
Chalmette Medical Center - located in Chalmette, Louisiana consisting of
Chalmette Medical Center, a two-story, 138-bed acute-care facility and
Virtue Street Pavilion, a one-story, 57-bed facility providing physical
rehabilitation, skilled nursing and inpatient behavioral health
services. The majority of the patients at these facilities are expected
to be transported to other regional hospitals. The real estate assets
of the 138-bed Chalmette Medical Center facility are owned by Universal
Health Realty Income Trust (NYSE: UHT) and leased by us.
River Oaks Hospital - a one-story, 126-bed behavioral health care
facility located in New Orleans, Louisiana. Patients and staff members
of this facility were successfully transferred to our Lakeside
Behavioral Health System facility located in Memphis, Tennessee.
Universal Health Services, Inc. is one of the nation's largest hospital
companies, operating acute care and behavioral health hospitals and ambulatory
centers nationwide and in Puerto Rico. It acts as the advisor to Universal
Health Realty Income Trust, a real estate investment trust (NYSE: UHT). For
additional information on the Company, visit our website:
http://www.uhsinc.com.
This press release contains forward-looking statements based on current
management expectations. Numerous factors, including those related to
healthcare industry trends and those detailed in our filings with the
Securities and Exchange Commission (as set forth in "Forward-Looking
Statements and Risk Factors" on pages 17 and 18 of our Form 10-Q for the
quarterly period ended June 30, 2005), may cause results to differ materially
from those anticipated in the forward-looking statements. Many of the factors
that will determine our future results are beyond our capability to control or
predict. These statements are subject to risks and uncertainties and
therefore actual results may differ materially. Readers should not place
undue reliance on such forward-looking statements which reflect management's
view only as of the date hereof. We undertake no obligation to revise or
update any forward-looking statements, or to make any other forward-looking
statements, whether as a result of new information, future events or
otherwise.
SOURCE: Universal Health Services, Inc.
CONTACT: Steve Filton, Chief Financial Officer, Universal Health
Services, +1-610-768-3300
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