Univ Health Svc Stock Price, News & Analysis

On September 27, 2020, Universal Health Services (NYSE: UHS) faced an information technology security incident, prompting a suspension of user access to its U.S. operations. The company is actively collaborating with security partners to quickly restore IT functions. Despite potential disruptions to clinical and financial operations, patient care is being maintained through established backup processes. Importantly, there is currently no evidence of data being accessed or misused. UHS is a major player in healthcare, with 2019 revenues of $11.4 billion and recognition among the World's Most Admired Companies.

Universal Health Services (UHS) announced the pricing of its private offering of $800 million in 2.650% senior secured notes due 2030. The notes will mature on October 15, 2030, with interest paid semi-annually, starting on April 15, 2021. The proceeds will be used to redeem $700 million of existing 4.750% senior secured notes due 2022 on September 28, 2020, along with accrued interest and transaction expenses. The offering is expected to close on September 21, 2020, and is limited to qualified institutional buyers.

Universal Health Services, Inc. (UHS) announced an offering of senior secured notes due 2030, intending to raise funds to redeem $700 million of its existing 4.750% Senior Secured Notes due 2022. The redemption is set for September 28, 2020. Proceeds will also cover accrued interest, transaction expenses, and general corporate purposes. These notes are not registered under the Securities Act and will be sold only to qualified institutional buyers. UHS is a leading provider of healthcare services, operating across the U.S., Puerto Rico, and the U.K.

Universal Health Services, Inc. (NYSE:UHS) announced that Alan B. Miller will step down as CEO in January 2021, transitioning leadership to Marc D. Miller, the current President. Alan will remain as Executive Chairman of the Board. Under Alan's leadership, UHS grew to an esteemed Fortune 300 corporation with 2019 revenues of $11.4 billion and approximately 90,000 employees across nearly 400 facilities. Marc D. Miller, with over 25 years at UHS, aims to continue the company's strategic growth and commitment to exceptional patient care.

Universal Health Services (NYSE: UHS) announced that Steve Filton, CFO, will participate in a virtual fireside chat at Baird's 2020 Global Healthcare Conference on September 10, 2020, at 7:55 AM. UHS is a leading hospital management company that has operated for over 40 years, focusing on healthcare needs across communities. The organization manages 397 facilities, including acute care hospitals and urgent care centers, across 37 states, D.C., the U.K., and Puerto Rico. For more details, visit uhsinc.com.

Universal Health Services, Inc. (UHS) reported a net income of $251.9 million, or $2.95 per share, for Q2 2020, up from $238.3 million, or $2.66 per share, in Q2 2019. Despite this, net revenues fell by 4.4% to $2.730 billion. Significant financial contributions came from governmental stimulus programs, totaling approximately $161.9 million. Both adjusted admissions and patient days saw declines of 24.8% and 18.1%, respectively, in acute care services. COVID-19 continues to impact operations, with patient volumes gradually improving following initial reductions.

Universal Health Services (UHS) will announce its second quarter earnings for the period ending June 30, 2020, after the market closes on July 27, 2020. A conference call for investors and analysts is scheduled for 9:00 a.m. Eastern Time on July 28, 2020. Investors can access the call by dialing 1-877-648-7971. A live broadcast will be available on the company's website, along with a replay of the call for one year post-event.

On July 13, 2020, the DOJ announced a settlement involving United Health Services (UHS), requiring the company to pay $117 million for resolving allegations of submitting false claims for inpatient behavioral health services. UHS reportedly admitted federal beneficiaries for unwarranted treatment and failed to provide adequate services from January 2006 to December 2018. The case involved claims from whistleblowers awarded $15.86 million of the settlement. UHS emphasizes that it does not acknowledge wrongdoing in this settlement.

Universal Health Services (UHS) has finalized settlement agreements related to civil investigations of its behavioral health care facilities by the U.S. Department of Justice and various state attorneys general. As of July 9, 2020, the company made net payments of approximately $117.3 million, which included funds previously withheld. UHS denies any wrongdoing, emphasizing that the settlement does not constitute an admission of liability. UHS has also entered into a Corporate Integrity Agreement with OIG-HHS, reinforcing its commitment to compliance in the future.