KING OF PRUSSIA, Pa.,
Dec. 28, 2016 /PRNewswire/
-- Universal Health Services, Inc. (NYSE: UHS)
announced today that it has completed the previously announced
acquisition of Cambian Group, PLC's Adult Services Division, which
will significantly expand the company's market presence in the
United Kingdom.
As announced previously, UHS agreed to purchase the adult
services division of Cambian Group, PLC for a total purchase price
of £377 million (or approximately $464
million). For 2016, the Cambian Adult Services Division is
expected to produce revenue of approximately £142 million (or
$175 million) and adjusted EBITDA of
approximately £35 million (of $43
million). The acquisition of the Cambian Adult Services
Group adds 81 behavioral facilities with 1,193 beds to the Cygnet
family in the U.K. This diverse group of facilities provides care
to adults with mental health disorders, intellectual disabilities,
autism, personality disorders and acquired brain conditions.
With the addition of the Cambian Adult Services Division, UHS will
have a total of 102 facilities with approximately 2,250 beds in the
U.K.
"We are pleased to close this strategic acquisition, which
positions UHS for continued future growth in a market that is
increasingly important to the company," said Alan B. Miller, CEO and Chairman of the Board of
UHS. "The Cambian Group has an excellent reputation as a quality
provider and brings expertise in services geared to adults and
children with a variety of mental health needs. Importantly,
they share UHS's 'patients first' philosophy and our commitment to
clinical quality. They have excellent Care Quality Commission
scores, an important and recognized measure in the UK, as well as
patient outcomes. Working together with Cygnet, our existing
business in the UK, the acquisition of these Cambian facilities
will ensure that we are well positioned to serve patients,
customers and communities with a broad range of innovative
treatment services and products."
About Universal Health Services
Universal Health
Services (NYSE: UHS) is one of the largest and most respected
hospital management companies in the nation. For nearly 40 years,
UHS and its affiliates have focused on meeting patients' healthcare
needs across hundreds of local communities. Including the
above-mentioned facilities acquired from Cambian, UHS subsidiaries
own and/or operate more than 320 acute care hospitals and
behavioral health facilities in 37 states, Washington, D.C., Puerto Rico, U.S.
Virgin Islands and the U.K. UHS constantly strives to
put patients first while adhering to the highest clinical
performance standards. Over the past 4 years, 83 UHS facilities
have been designated Top Performer in Key Quality Measures by The
Joint Commission. In the Behavioral Health Division, over half of
UHS's eligible facilities received this distinguished recognition
for the quality of our services. For additional information on the
Company, visit our web site: http://www.uhsinc.com.
Forward-Looking Statements
Certain statements in this
release may constitute forward-looking statements and are subject
to various risks and uncertainties as discussed in the Company's
filing 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.
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SOURCE Universal Health Services, Inc.