Universal Health Services 2Q Volumes Up, Profits Down

Universal Health Services, based in King of Prussia, Pa., experienced increased volumes in the second quarter of 2009, but profits were down 19 percent from a year ago due to increased costs, including $11.3 million in transaction fees for its planned acquisition of Psychiatric Solutions, according to a news release by UHS.

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Second quarter 2010 net income attributable to UHS was $65.6 million, compared to $80.9 million for the second quarter of 2009. Net revenues reached $1.34 billion, an increase of 3 percent over $1.3 billion for the second quarter of 2009.

Increases in revenues were, in part, a result of growth in admissions at the hospital operator’s facilities. Admissions at UHS’s acute-care hospitals grew 1.9 percent on a same-facility basis for the quarter, compared to a year ago. These hospitals experienced a 2.2 percent increase in net revenues. Admissions at UHS’s behavioral health centers increased 4.7 percent, on a same-facility basis, with net revenues growing 5.5 percent.

Read the release on UHS’s 2Q 2010 financial results.

Read other coverage on UHS:

–  UHS to Buy Psychiatric Solutions in $3.1 Billion Deal
UHS CEO Discusses Healthcare, Tort Reform

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