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Universal Health Services Inc--Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 26, 2014

 

 

UNIVERSAL HEALTH SERVICES, INC.

(Exact name of registrant as specified in its charter)

 

 

 

DELAWARE   1-10765   23-2077891

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

Universal Corporate Center

367 South Gulph Road

King of Prussia, Pennsylvania

   19406
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (610) 768-3300

Not Applicable

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Item 8.01. Other Events.

On September 26, 2014, Universal Health Services, Inc., issued a press release announcing the acquisition of Cygnet Health Care Limited (“Cygnet”), an independent provider of behavioral health services in the United Kingdom, for a purchase price of approximately $335 million. Cygnet generated approximately $161 million of revenue during the past twelve months through its 17 facilities (743 beds) located throughout the United Kingdom including 15 inpatient behavioral health hospitals and 2 nursing homes. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

 

Item 9.01. Financial Statements and Exhibits.

 

  (d) Exhibits. 99.1 Universal Health Services, Inc. press release dated September 26, 2014.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    UNIVERSAL HEALTH SERVICES, INC.
Date: September 26, 2014     By:  

/s/ Steve Filton

      Name:   Steve Filton
      Title:   Senior Vice President and Chief Financial Officer

Exhibit Index

 

Exhibit
No.

   

Description

99.1    Press Release issued by Universal Health Services, Inc. dated September 26, 2014
EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

 

CONTACT:    Steve Filton    September 26, 2014
   Chief Financial Officer   
   610-768-3300   

UNIVERSAL HEALTH SERVICES, INC. ANNOUNCES

ACQUISITION OF CYGNET HEALTH CARE LIMITED

AND IS ADDED TO THE S&P 500 INDEX

KING OF PRUSSIA, PA- Universal Health Services, Inc. (NYSE:UHS) announced today that it has acquired the stock of Cygnet Health Care Limited (“Cygnet”) for a purchase price of approximately $335 million. Through this acquisition, we have added a total of 17 facilities throughout the United Kingdom (“UK”) including 15 inpatient behavioral health hospitals and 2 nursing homes with a total of 743 beds. Cygnet generated approximately $161 million of annual revenue over the past twelve months.

Cygnet has a national footprint and is one of the largest independent providers of behavioral health facilities in the UK. They are the leading specialist mental health provider in the UK which includes services for children, eating disorders and autism, among others. They have outstanding customer relationships and a well established reputation for excellence.

Alan B. Miller, CEO and Chairman of the Board of Universal Health Services, Inc. said, “We are proud to have been chosen to continue Cygnet Health Care’s long history of providing high quality healthcare in this very attractive market. These facilities are very well run by a highly experienced and committed management team. We look forward to sharing best practices and building on their tradition of excellence as we look to grow and expand our services in the UK.”

David Cole, Cygnet’s CEO remarked “We are delighted to be combining Cygnet with UHS. Both companies have been in existence for many years and my overriding feeling is that we have a strong cultural fit with a mutual desire to provide the highest possible quality of patient care.”

In addition, earlier this week UHS was added as a component of the S&P 500 Index. Alan B. Miller said “We are very proud to be part of such a prestigious Index alongside some of the world’s largest and most respected companies. This achievement is a tribute to our long track record of success and the hard work and dedication of our more than 66,000 employees.” UHS was added to the S&P 500 GICS Health Care Facilities Sub-Industry index.

Universal Health Services, Inc. is one of the nation’s largest hospital companies, operating, through its subsidiaries, behavioral health facilities, acute care hospitals, and ambulatory centers throughout the United States, Puerto Rico, the United Kingdom and the U.S. Virgin Islands.

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.

For additional information on the Company, visit our website; http://www.uhsinc.com.

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