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.
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
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