Net income at King of Prussia, Pa.-based Universal Health Services soared 156 percent during the fourth quarter of 2011, from $37.2 million in 2010 to $95.3 million in 2011, due to its year-old acquisition of Psychiatric Solutions.
UHS acquired Psychiatric Solutions in November 2010 for $2 billion, which hindered its 2010 results. Net revenue for the fourth quarter of 2011 totaled $1.84 billion, a jump of 18 percent from $1.56 billion in the same period a year ago.
For the entire 2011 fiscal year, UHS reported a profit of $398.2 million, a large increase from the $230.2 million recorded in 2010. Net revenue soared 34.7 percent, from $5.57 billion in 2010 to $7.5 billion in 2011. UHS reported EBITDA of $1.14 billion for 2011, up 55 percent from $737.2 million in 2010.
UHS, which operates 21 acute-care hospitals and 177 behavioral health hospitals, did not acquire any hospitals during the course of 2011. UHS released same-facility statistics, with most of the production coming from its behavioral health hospitals.
Same-facility statistics for UHS' acute-care hospitals for the entire 2011 fiscal year include a 2.2 percent drop in admissions, a 1.8 percent increase in the length of stay and a 0.4 percent decrease in the average daily census. Same-facility statistics for behavioral health hospitals include a 7.7 percent year-over-year increase in admissions and a 3.4 percent increase in the average daily census.
UHS acquired Psychiatric Solutions in November 2010 for $2 billion, which hindered its 2010 results. Net revenue for the fourth quarter of 2011 totaled $1.84 billion, a jump of 18 percent from $1.56 billion in the same period a year ago.
For the entire 2011 fiscal year, UHS reported a profit of $398.2 million, a large increase from the $230.2 million recorded in 2010. Net revenue soared 34.7 percent, from $5.57 billion in 2010 to $7.5 billion in 2011. UHS reported EBITDA of $1.14 billion for 2011, up 55 percent from $737.2 million in 2010.
UHS, which operates 21 acute-care hospitals and 177 behavioral health hospitals, did not acquire any hospitals during the course of 2011. UHS released same-facility statistics, with most of the production coming from its behavioral health hospitals.
Same-facility statistics for UHS' acute-care hospitals for the entire 2011 fiscal year include a 2.2 percent drop in admissions, a 1.8 percent increase in the length of stay and a 0.4 percent decrease in the average daily census. Same-facility statistics for behavioral health hospitals include a 7.7 percent year-over-year increase in admissions and a 3.4 percent increase in the average daily census.
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