COMPANY ACQUIRES 46 BEHAVIORAL HEALTH FACILITIES FROM KEYS GROUP
By John Mugford
Universal Health Services Inc. (NYSE: UHS) recently announced that it has acquired the stock of Nashville, Tenn.-based Keys Group Holdings LLC, which includes Keystone Education and Youth Services LLC. The acquisition comprises 46 facilities in 10 states, including 21 residential treatment facilities with 1,280 beds, 21 non-public therapeutic day schools and four detention facilities.
Universal, based in King of Prussia, Pa., says the acquisition is expected to generate approximately $165 million of annual revenue, beginning on Oct. 1. The net purchase price was $207 million, which UHS paid in cash.
With the acquisitions, Universal, which is the largest operator of inpatient behavioral health facilities, operates a total of 95 facilities in 26 states and Puerto Rico.
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