|Universal Health Services, Inc. Announces Agreement to Acquire Texoma Healthcare System|
KING OF PRUSSIA, Pa., Dec. 6 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that it has entered into a definitive agreement to acquire certain assets of the Texoma Healthcare System ("Texoma") located in Denison, Texas, including a 234-bed acute-care hospital, a 60-bed behavioral health hospital, a 21-bed freestanding rehabilitation hospital and TexomaCare, a 34-physician group practice structured as 501-a.
Denison is located in Grayson County, Texas which is approximately 70 miles north of Dallas. This area has a population of approximately 200,000 people and is expected to grow rapidly over the next five years. Alan B. Miller, President, CEO and Chairman of the Board of Universal Health Services, Inc., said, "We are proud to have been chosen to continue Texoma Healthcare System's tradition of providing high-quality healthcare in this very attractive market. This is the acute-care system we have been seeking; it is an ideal strategic fit for UHS. We are delighted to welcome Texoma to the UHS family."
Under the terms of the Agreement, UHS plans to build a 220-bed replacement facility within three years of the closing date. Texoma currently generates annual revenue of approximately $150 million. This transaction, which is subject to normal regulatory approvals, is expected to be completed in January 2007.
Certain statements in this release may constitute forward-looking statements and are subject to risks and uncertainties. The Company is not obligated to update these forward-looking statements even if the Company's assessment of these risks and uncertainties changes.
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. For additional information on the Company, visit our web site: http://www.uhsinc.com.
SOURCE Universal Health Services, Inc.
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