This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Universal Health Services, Inc. Expands Behavioral Health Operations In Arizona

KING OF PRUSSIA, Pa., March 3, 2014 /PRNewswire/ -- Universal Health Services, Inc. (NYSE: UHS) announced today that it has completed the acquisition of Palo Verde Behavioral Health ( Palo Verde) from Tucson Medical Center.  Palo Verde currently operates 48 adult inpatient psychiatric beds. This acquisition establishes the Company's presence in the Tucson market and expands UHS's behavioral health presence in Arizona which includes Valley Hospital, an acute inpatient psychiatric hospital and Calvary Addiction Recovery Center, both located in Phoenix.

"We are very excited to consummate this transaction with Tucson Medical Center. As a leader in behavioral health services, UHS is eager to operate Palo Verde with its longstanding reputation for stability and quality care. UHS looks forward to working in partnership with Tucson Medical Center in expanding the facility's capacity to 84 inpatient beds by the end of 2014. Additionally, we look to develop child and adolescent behavioral health programs to meet the great need and demand in southern Arizona for these services," said Debra Osteen, President, Behavioral Health Division of UHS. 

In addition to the Palo Verde acquisition, UHS has also made a significant investment to grow its operation in the Phoenix market by acquiring a 67,324 square foot medical building which will be converted into a psychiatric hospital. The de novo project in north Phoenix, Quail Run Behavioral Health, will operate 100 inpatient psychiatric beds and is expected to open in the fall of 2014. Quail Run Behavioral Health will provide a broad range of acute behavioral health services for children, adolescents and adults, along with specialty psychiatric treatment programs to specifically address identified service gaps in the greater Phoenix area.

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, 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs