|Universal Health Services, Inc. Completes Acquisition of Two Behavioral Health Facilities and Promotes Debra K. Osteen to Senior Vice President|
KING OF PRUSSIA, Pa., Dec. 20 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that it has acquired the Center for Change, a 58-bed facility located in Orem, Utah. The Center for Change specializes in eating disorder services and provides acute and residential services to female patients on a national basis. The Company also announced that last month it acquired the Wyoming Behavioral Institute, a 70-bed facility located in Casper, Wyoming. The Wyoming Behavioral Institute provides a continuum of behavioral health programs and services including acute, residential, partial and outpatient services for children, adolescents and adults. These two acquisitions are expected to generate approximately $19 million of annual revenue and the combined purchase price of approximately $30 million was paid in cash.
Debra K. Osteen, President of Universal Health's Behavioral Health division said, "We are very happy to announce the addition of these two facilities and to welcome them to the UHS family. The acquisition of Wyoming Behavioral Institute allows UHS to enter a new state and we are looking forward to expanding the facility and growing services for Wyoming residents. The acquisition of the Center for Change is an excellent complement to our existing specialty focus in the behavioral health division."
UHS also announced that the Board of Directors has elected Ms. Osteen a Senior Vice President of the Company. Alan B. Miller, Chairman of the Board, President and CEO cited her "outstanding leadership in directing the most extensive and successful behavioral health network in the nation." The behavioral health division now numbers 105 facilities with 6,322 beds and includes 48 hospitals and outpatient facilities, 31 residential treatment centers, 23 overnight and day schools and 3 detention centers.
Universal Health Services, Inc. is one of the nation's largest hospital companies, operating acute care and behavioral health hospitals, ambulatory surgery and radiation centers nationwide. 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.
SOURCE: Universal Health Services, Inc.
CONTACT: Steve Filton, Chief Financial Officer of Universal Health Services, Inc., +1-610-768-3300
|<< Back To Press Releases|