Universal Health Services, Inc. Announces Sale of Acute Care Hospital and Addition of Two Behavioral Health Hospitals
Posted on: Monday, 8 September 2008, 18:00 CDT
KING OF PRUSSIA, Pa., Sept. 8 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. announced today that it has signed a definitive agreement to sell Central Montgomery Medical Center, a 125 bed acute care hospital located in Lansdale, Pennsylvania to Abington Memorial Hospital. The sale is subject to customary regulatory approvals and we expect the closing to occur later this fall.
UHS also announced that it completed the acquisition of SummitRidge Hospital located in Lawrenceville, Georgia. SummitRidge is a behavioral health hospital with 76 beds, consisting of 26 adolescent beds and 50 adult beds and also provides hospitalization and outpatient programs for adolescents, adults and gero-psychiatric patients. In addition UHS announced that it has completed the renovation of the 120-bed Central Florida Behavioral Hospital and expects to receive licensure and open for business before the end of the month. Both of these hospitals complement existing facilities in the Atlanta and Orlando markets and will provide an opportunity to offer new programs and services in each market.
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 . For additional information on the Company, visit our web site: http://www.uhsinc.com/.
This press release contains forward-looking statements based on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in Item 1A-Risk Factors in our Form 10-K for the year ended December 31, 2007 and in Item 2- Forward-Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended June 30, 2008), 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.
Universal Health Services, Inc.
CONTACT: Steve Filton, Chief Financial Officer, +1-610-768-3300
Web site: http://www.uhsinc.com/
Company News On-Call: http://www.prnewswire.com/comp/916225.html
Source: PRNewswire-FirstCall
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