KING OF PRUSSIA, Pa., May 26 /PRNewswire-FirstCall/ -- Universal Health Services, Inc. announced today that it has signed a definitive agreement to sell 106-bed River Parishes Hospital located in La Place, Louisiana, to LifePoint Hospitals, Inc. . River Parishes Hospital generated approximately $36 million of net revenue in 2003. The sale proceeds will be approximately $24 million, excluding working capital and we expect the closing to occur by June 30, 2004.
“We are pleased with this agreement. River Parishes Hospital is located in a rural market, which is inconsistent with our strategy to own hospitals in mid-sized, rapidly growing markets and is more closely aligned with LifePoint’s strategy. We are confident that LifePoint will continue to provide quality healthcare to the community,” said Alan B. Miller, President and Chairman of the Board of UHS.
Universal Health Services, Inc. is one of the nation’s largest hospital companies, operating acute care and behavioral health hospitals, ambulatory and radiation centers nationwide, in Puerto Rico and in France. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust .
Certain statements in this release may constitute forward-looking statements that are subject to various risks and uncertainties as discussed in the Company’s filings 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 web site: http://www.uhsinc.com/.
Universal Health Services, Inc.
CONTACT: Steve Filton, Chief Financial Officer, Universal HealthServices, Inc., +1-610-768-3300
Web site: http://www.uhsinc.com/
Company News On-Call: http://www.prnewswire.com/comp/916225.html
