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): April 29, 2016
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 May 2, 2016, Universal Health Services, Inc. (the “Company”), issued a press release announcing that it has agreed to purchase the minority ownership interests held by a third-party in its six acute care hospitals located in Las Vegas, Nevada. In connection with this transaction, the Company will make an aggregate cash payment of $445 million to the third-party which includes both the purchase price and return of capital.
The ownership interests purchased, which range from 26.1% to 27.5%, relate to Centennial Hills Hospital Medical Center, Desert Springs Hospital, Henderson Hospital (currently under construction), Spring Valley Hospital Medical Center, Summerlin Hospital Medical Center and Valley Hospital Medical Center.
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 May 2, 2016.
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: May 3, 2016 | By: | /s/ Steve Filton | ||||
| Name: | Steve Filton | |||||
| Title: | Senior Vice President and Chief Financial Officer | |||||
Exhibit Index
| Exhibit |
Description | |
| 99.1 | Press Release issued by Universal Health Services, Inc. dated May 2, 2016 | |
Exhibit 99.1
FOR IMMEDIATE RELEASE
CONTACT: Steve Filton
| Chief Financial Officer | May 2, 2016 |
610-768-3300
UNIVERSAL HEALTH SERVICES, INC.
ANNOUNCES PURCHASE OF THIRD-PARTY MINORITY OWNERSHIP INTERESTS IN SIX ACUTE CARE HOSPITALS IN LAS VEGAS, NEVADA
KING OF PRUSSIA, PA – Universal Health Services, Inc. (NYSE: UHS) announced today that it has agreed to purchase the minority ownership interests held by a third-party in its six acute care hospitals located in Las Vegas, Nevada. In connection with this transaction, the Company will make an aggregate cash payment of $445 million to the third-party which includes both the purchase price and return of capital.
The ownership interests purchased, which range from 26.1% to 27.5%, relate to Centennial Hills Hospital Medical Center, Desert Springs Hospital, Henderson Hospital (currently under construction), Spring Valley Hospital Medical Center, Summerlin Hospital Medical Center and Valley Hospital Medical Center.
“This transaction reflects our continued confidence in the performance of our hospitals in the Las Vegas market and, in particular, our enthusiasm for the opening of our newest hospital in Henderson, Nevada later this year”, said Alan B. Miller, Chief Executive Officer.
UHS is one of the nation’s largest hospital companies operating through its subsidiaries acute care hospitals, behavioral health facilities and ambulatory centers located throughout the United States, the United Kingdom, Puerto Rico and the U.S. Virgin Islands. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT). For additional information on the Company, visit our web site: http://www.uhsinc.com.
This press release contains forward-looking statements which are based on the current expectations of UHS and which are inherently subject to uncertainties and changes in circumstances. UHS undertakes 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. Please refer to UHS’s filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended December 31, 2015, for more information on additional risks that could cause actual results to differ from the forward-looking statements made herein.