Universal Health Services
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| Public | |
| Traded as | : UHS S&P 500 component |
| Founded | September 1978 King of Prussia, Pennsylvania, U.S. |
| Headquarters | King of Prussia, Pennsylvania, U.S. |
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Key people
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Alan B. Miller (Chairman, CEO and Founder) |
| Website | Official website |
Universal Health Services (UHS) (: UHS) is an American Fortune 500 company based in King of Prussia, Pennsylvania. It is one of the largest hospital management companies in the United States.
As of February 25, 2016, UHS operates through its subsidiaries 24 inpatient acute care hospitals, 3 free-standing emergency departments and 213 inpatient and 16 outpatient behavioral health care facilities located in 37 states, Washington, D.C., the United Kingdom, Puerto Rico and the U.S. Virgin Islands. The UHS facilities located in the U.S. had approximately 72,600 employees as of December 31, 2015, of whom approximately 52,400 were employed full-time. In addition, the facilities located in the U.K. had approximately 2,000 employees as of December 31, 2015.
The company aims to provide quality healthcare at affordable cost, strengthen physician and community relationships, and pursue conservative growth.
Alan B. Miller, who currently serves as the company’s Chairman and Chief Executive Officer, founded Universal Health Services, Inc. in 1979 after he engineered a financial turnaround of American Medicorp, only to lose the control of the company in a hostile takeover by Humana. The next day, Miller founded UHS with $3.2 million from venture capitalists and $750,000 put up by himself and several former American Medicorp employees who decided to follow Miller into his new venture. Within 18 months of its founding, UHS would own four hospitals and have management contracts with two additional hospitals.
According to their annual report for fiscal year 2015, UHS is running the following facilities:
The Centers for Medicare and Medicaid Services (CMS) threatened the Rancho Springs Medical Center (Murrieta) and Inland Valley Regional Medical Center (Wildomar) in California with decertification in June 2010 while the State of California warned of a possible hospital license revocation. Universal Health Services implemented a program to address all concerns and in November 2011, the two hospitals passed a CMS Certification Survey. As a result, CMS rescinded its termination notice and the California Department of Public Health withdrew its license revocation notice.
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