UNIVERSAL HEALTH SERVICES INC (UHS)

Universal Health Services (organized in Delaware in 1979, headquartered in King of Prussia, PA) owns and operates, through subsidiaries, a diversified network of acute care hospitals and outpatient facilities alongside a large behavioral health care platform. As of February 25, 2026, the company operated 375 inpatient facilities and 168 outpatient and other facilities across 40 U.S. states, Washington, D.C., the United Kingdom, and Puerto Rico. Its U.S. acute care segment includes 29 inpatient acute care hospitals, 35 free-standing emergency departments, 13 outpatient centers, and 1 surgical hospital, offering services such as general and specialty surgery, internal medicine, obstetrics, emergency care, radiology, oncology, diagnostic care, coronary care, pediatrics, pharmacy, and behavioral health services.

Its behavioral health care segment comprises 346 inpatient and 119 outpatient facilities, including 182 U.S. inpatient and 110 U.S. outpatient facilities, 161 U.K. inpatient and 2 U.K. outpatient facilities, and 3 inpatient and 7 outpatient facilities in Puerto Rico; the U.K. behavioral health operations generated approximately $1.001 billion in net revenues in 2025 (up from $880 million in 2024) with total assets of approximately $1.531 billion. Acute care hospitals and outpatient facilities accounted for approximately 57% of consolidated net revenues in both 2025 and 2024, while behavioral health care facilities contributed approximately 43% in each year. The company also provides management and capital support services to its facilities, including centralized purchasing, information systems, financial and control systems, facilities planning, physician recruitment, administrative personnel management, and marketing/public relations.

Revenue sources include private insurers and managed care plans, the federal Medicare program, state Medicaid programs, and direct patient payments. The company's growth strategy centers on acquiring, constructing, or leasing additional hospital facilities, partnering with non-UHS acute care hospitals to operate behavioral health services through purchases, leased beds, and joint ventures, and improving operations and revenue at existing facilities through new service introduction, physician recruitment, and enhanced financial controls, while emphasizing expansion of outpatient services in response to industry cost-containment trends. Its facilities serve local communities, physicians, and patients, operating within a heavily regulated environment encompassing licensure, Medicare/Medicaid certification, certificate-of-need laws, utilization review, and anti-kickback and self-referral (Stark Law) regulations.