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Universal Health Services, Inc. (UHS) is a leading healthcare management company that operates through its subsidiaries, which include acute care hospitals, behavioral health facilities, and ambulatory centers across the United States, the United Kingdom, and Puerto Rico. Founded in 1978, UHS is headquartered in King of Prussia, PA, and has grown into a Fortune 500 company with annual revenues of $14.282 billion in 2023 and a workforce of approximately 96,700 employees.
The company's operations are divided into two main segments: Acute Care Hospital Services and Behavioral Health Services. The Acute Care segment encompasses acute care hospitals, surgical hospitals, and surgery and oncology centers, while the Behavioral Health segment includes inpatient and outpatient behavioral health facilities. UHS aims to build or acquire high-quality hospitals in rapidly growing markets, focusing on exceptional service and cost efficiency.
Recent Achievements and Financial Performance:
- In the second quarter of 2023, UHS reported a net income of $171.3 million ($2.42 per diluted share), reflecting a 6.8% increase in net revenues to $3.548 billion compared to the same period in 2022.
- For the full year of 2023, UHS reported net revenues of $14.282 billion, a 6.6% increase from 2022, with a net income of $717.8 million ($10.23 per diluted share).
- The company consistently sees growth in both acute care and behavioral health services, with significant increases in adjusted admissions and net revenues.
Current Projects and Strategic Focus:
- UHS is focusing on expanding its presence in rapidly growing markets by investing in new facilities and upgrading existing ones.
- The company is continuously exploring strategic acquisitions to enhance its service offerings and market reach.
- UHS maintains a proactive approach to managing its finances and operational efficiency, including a stock repurchase program with an aggregate available authorization of approximately $423 million as of December 31, 2023.
Partnerships and Community Impact:
- UHS acts as the advisor to Universal Health Realty Income Trust (NYSE: UHT), a real estate investment trust.
- The company's operating philosophy emphasizes integrity, competence, and compassion, ensuring high-quality care for its patients and communities.
UHS has been recognized on the Fortune 500 list (#311) and Forbes' list of America's Largest Public Companies (#434). Additionally, UHS has been named one of the World's Most Admired Companies by Fortune, highlighting its commitment to excellence in healthcare services.
For the latest news, financial reports, and conference call information, please visit the UHS website.
Universal Health Services reported a net income of $241.3 million, or $2.82 per diluted share, for Q3 2020, up from $97.2 million, or $1.10 per diluted share, in Q3 2019. Net revenues increased by 3.2% to $2.913 billion. Adjusted net income was $246.5 million, benefitting from $28 million in net revenues from the California Medicaid program. However, COVID-19 impacted operations, reducing patient volumes significantly. For the nine months ended September 30, 2020, net income was $635.2 million, slightly up from $569.7 million for the same period in 2019.
Universal Health Services, Inc. (NYSE: UHS) will report its third quarter 2020 results on October 29, 2020, after market close. A conference call for investors will be held on October 30, 2020, at 10:00 a.m. Eastern Time. The dial-in number is 1-877-648-7971. Investors can also access a live broadcast of the call on the company's website, along with a replay available for one year post-call. UHS operates a network of acute care hospitals, behavioral health facilities, and ambulatory centers in the U.S., UK, and Puerto Rico.
On September 27, 2020, Universal Health Services (NYSE: UHS) faced an information technology security incident, prompting a suspension of user access to its U.S. operations. The company is actively collaborating with security partners to quickly restore IT functions. Despite potential disruptions to clinical and financial operations, patient care is being maintained through established backup processes. Importantly, there is currently no evidence of data being accessed or misused. UHS is a major player in healthcare, with 2019 revenues of $11.4 billion and recognition among the World's Most Admired Companies.
Universal Health Services (UHS) announced the pricing of its private offering of $800 million in 2.650% senior secured notes due 2030. The notes will mature on October 15, 2030, with interest paid semi-annually, starting on April 15, 2021. The proceeds will be used to redeem $700 million of existing 4.750% senior secured notes due 2022 on September 28, 2020, along with accrued interest and transaction expenses. The offering is expected to close on September 21, 2020, and is limited to qualified institutional buyers.
Universal Health Services, Inc. (UHS) announced an offering of senior secured notes due 2030, intending to raise funds to redeem $700 million of its existing 4.750% Senior Secured Notes due 2022. The redemption is set for September 28, 2020. Proceeds will also cover accrued interest, transaction expenses, and general corporate purposes. These notes are not registered under the Securities Act and will be sold only to qualified institutional buyers. UHS is a leading provider of healthcare services, operating across the U.S., Puerto Rico, and the U.K.
Universal Health Services, Inc. (NYSE:UHS) announced that Alan B. Miller will step down as CEO in January 2021, transitioning leadership to Marc D. Miller, the current President. Alan will remain as Executive Chairman of the Board. Under Alan's leadership, UHS grew to an esteemed Fortune 300 corporation with 2019 revenues of $11.4 billion and approximately 90,000 employees across nearly 400 facilities. Marc D. Miller, with over 25 years at UHS, aims to continue the company's strategic growth and commitment to exceptional patient care.
Universal Health Services (NYSE: UHS) announced that Steve Filton, CFO, will participate in a virtual fireside chat at Baird's 2020 Global Healthcare Conference on September 10, 2020, at 7:55 AM. UHS is a leading hospital management company that has operated for over 40 years, focusing on healthcare needs across communities. The organization manages 397 facilities, including acute care hospitals and urgent care centers, across 37 states, D.C., the U.K., and Puerto Rico. For more details, visit uhsinc.com.
Universal Health Services, Inc. (UHS) reported a net income of $251.9 million, or $2.95 per share, for Q2 2020, up from $238.3 million, or $2.66 per share, in Q2 2019. Despite this, net revenues fell by 4.4% to $2.730 billion. Significant financial contributions came from governmental stimulus programs, totaling approximately $161.9 million. Both adjusted admissions and patient days saw declines of 24.8% and 18.1%, respectively, in acute care services. COVID-19 continues to impact operations, with patient volumes gradually improving following initial reductions.
Universal Health Services (UHS) will announce its second quarter earnings for the period ending June 30, 2020, after the market closes on July 27, 2020. A conference call for investors and analysts is scheduled for 9:00 a.m. Eastern Time on July 28, 2020. Investors can access the call by dialing 1-877-648-7971. A live broadcast will be available on the company's website, along with a replay of the call for one year post-event.
On July 13, 2020, the DOJ announced a settlement involving United Health Services (UHS), requiring the company to pay $117 million for resolving allegations of submitting false claims for inpatient behavioral health services. UHS reportedly admitted federal beneficiaries for unwarranted treatment and failed to provide adequate services from January 2006 to December 2018. The case involved claims from whistleblowers awarded $15.86 million of the settlement. UHS emphasizes that it does not acknowledge wrongdoing in this settlement.
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