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    Universal Health Services Inc (UHS)

    New Share Buyback Program

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    Universal Health Services, Inc. (UHS) is a healthcare company that owns and operates a network of acute care hospitals, outpatient facilities, and behavioral health care facilities across the United States, the United Kingdom, and Puerto Rico . The company provides a wide range of medical services, including general and specialty surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, pediatric services, pharmacy services, and behavioral health services . UHS's revenue is primarily derived from its acute care and behavioral health care segments, with additional support services such as capital resources and management services provided to its facilities .

    1. Acute Care Services - Operates acute care hospitals and outpatient facilities offering services such as general and specialty surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, pediatric services, and pharmacy services.
    2. Behavioral Health Services - Manages behavioral health care facilities providing comprehensive mental health services, with significant operations in the United States and the United Kingdom.
    3. Support Services - Provides capital resources and management services, including central purchasing, information services, finance and control systems, facilities planning, physician recruitment services, administrative personnel management, marketing, and public relations to its facilities.
    NamePositionStart DateShort Bio
    Marc D. MillerChief Executive Officer and PresidentJanuary 1, 2021Marc D. Miller has been serving as the Chief Executive Officer and President of UHS since January 1, 2021. He has been a Director since 2006 and served as President starting in May 2009. He has held various positions within the Acute Care Division since 2000. He is the son of Alan B. Miller, the Executive Chairman of UHS .
    Alan B. MillerExecutive Chairman of the BoardJanuary 1, 2021Alan B. Miller has been a Director of UHS since its inception in 1978. He served as the Chief Executive Officer from 1978 until he stepped down on January 1, 2021, at which point he became Executive Chairman. He was previously the President, Chairman, and CEO of American Medicorp, Inc. .
    Steve G. FiltonExecutive Vice President, Chief Financial Officer, and Secretary2003 (CFO), 1999 (Secretary)Steve G. Filton has been the Executive Vice President, Chief Financial Officer, and Secretary at UHS. He became CFO in 2003 and Secretary in 1999. He was elected Executive Vice President in 2017 and has been with UHS since 1985 in various roles .
    Matthew J. PetersonExecutive Vice President, President of Behavioral Health DivisionSeptember 2019Matthew J. Peterson joined UHS in September 2019 as Executive Vice President and President of the Behavioral Health Division. He previously worked at UnitedHealth Group for 11 years and serves in the Air National Guard, U.S. Air Force, recently promoted to Brigadier General .
    Edward H. SimExecutive Vice President, President of Acute Care DivisionDecember 5, 2022Edward H. Sim began his role as Executive Vice President and President of the Acute Care Division at UHS on December 5, 2022. Before joining UHS, he was the Chief Operating Officer at Centura Health and held senior leadership roles at Baptist Health for 11 years .
    1. Given your previous statements about cost management efforts in preparation for moderating volumes , could you elaborate on how your strategies have evolved in response to the faster-than-expected moderation in acute care volumes, and how confident are you in achieving EBITDA and margin expansion under these circumstances?

    2. With the aggressive behavior from managed care payers, including increased patient denials and status downgrades , how is this impacting your revenue cycle management, and what specific actions are you taking to mitigate these pressures, particularly related to the Two-Midnight rule?

    3. In light of higher liability reserves and issues at certain psychiatric facilities , are you considering a shift in your strategic direction or operational focus within the behavioral health segment, and how do you plan to address the risks associated with these challenges?

    4. Considering the potential capacity constraints in your acute and behavioral hospitals, with occupancy in behavioral facilities running at higher levels despite overall occupancy in the low 70s , how are you balancing capital expenditures between building new beds and optimizing existing capacity to drive admission growth?

    5. As you continue with significant capital expenditures and share repurchases , could you provide clarity on your capital allocation strategy going forward, including your appetite for M&A opportunities versus returning capital to shareholders, especially in the context of expanding services like outpatient care and telehealth in behavioral health?

    Program DetailsProgram 1
    Approval DateJuly 2024
    End Date/DurationNo expiration
    Total additional amount$1.0 billion
    Remaining authorization amount$1,073.981 million
    DetailsNo expiration date
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    2025$738Other DebtN/A15.7% = (738 / 4700) * 100
    2026$7001.65% Senior Secured Notes1.6514.9% = (700 / 4700) * 100
    2027$70Other DebtN/A1.5% = (70 / 4700) * 100
    2029$1,300Other DebtN/A27.7% = (1300 / 4700) * 100
    2029$5004.625% Senior Secured Notes4.62510.6% = (500 / 4700) * 100
    2030$8002.65% Senior Secured Notes2.6517.0% = (800 / 4700) * 100
    2032$5002.65% Senior Secured Notes2.6510.6% = (500 / 4700) * 100
    2034$5005.050% Senior Secured Notes5.05010.6% = (500 / 4700) * 100
    Beyond 2034$2,400Other DebtN/A51.1% = (2400 / 4700) * 100
    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP2007PresentCurrent auditor

    Recent developments and announcements about UHS.

    Financial Actions

      New Share Buyback Program

      ·
      Oct 1, 2024, 12:00 AM

      Universal Health Services, Inc. (UHS) has announced a new buyback program. The key details are as follows: UHS has authorized the repurchase of up to $500 million of its outstanding common stock. This program is set to be executed over the next 12 months and will be funded through a combination of cash on hand and cash generated from operations. The buyback program is intended to enhance shareholder value by reducing the number of shares outstanding, thereby increasing the ownership stake of remaining shareholders .