King of Prussia’s Universal Health Services has completed its acquisition of the UK’s Cambian Group’s Adult Services Division in a deal that will give it an even stronger foothold there, writes John George for Philadelphia Business Journal.
The $464 million deal had already been in the works for some time and will significantly expand UHS’ presence in the UK market. The acquisition includes 81 behavioral facilities which will add 1,193 beds and continue the company’s plans for further expansion.
This will give UHS just over a 100 facilities in the UK with a total of 2,250 beds. For 2016 alone, the Cambian Adult Services brought in revenue of around $175 million and had earnings of $43 million.
Universal Health Services, which was founded in 1978 and is a Fortune 500 company, already has annual earnings of $9.5 billion dollars and employs over 72,000 people worldwide.
“We are pleased to close this strategic acquisition, which positions UHS for continued future growth in a market that is increasingly important to the company,” said Alan B. Miller, chairman and CEO of UHS.
Read more about the acquisition by clicking here, and check out previous MONTCO Today coverage of Universal Health Services by clicking here.