Universal Health Services, Inc. Completes the Acquisition of Cambian Group PLC's Adult Services Division
Significantly expands market presence in the United Kingdom
Dec 28, 2016, 04:30 ET
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.
SOURCE Universal Health Services, Inc.