Universal Health Services (UHS) is one of the leading healthcare operators in the United States (US). The UHS received approval from the Federal Trade Commission for the purchase of Foundations Recovery Network for $350 million dollars.
The UHS aims to help Foundations Recovery Network in speeding up addiction treatment in the US. Using a motivational approach and their 12-Step principles, Foundations has received its share of accolades for successful treatments.
Founded in 1995, the Foundations Recovery Network manages several state-of-the-art treatment facilities. With various amenities across the US, the Foundations offers treatment for people suffering from drug addiction and mental health problems in a residential setting. Foundations is praised for its sophisticated marketing model that includes a sales team all over the US, a competitive web marketing program and a call center.
The Pritzker family, one of the richest in the US, owns majority of Foundations Recovery Network. Jay Pritzker founded the Hyatt Hotels Corporation in 1957. His niece, Penny Pritzker is a business executive and philanthropist. Nominated by President Barack Obama, Penny serves as the US Secretary of Commerce since June 2013.
"UHS is a company which we trust to further our commitment to the treatment of addiction, which is at epidemic levels in our country," said Joby Pritzker, spokesperson for the Pritzker family. Foundations CEO Rob Waggener added that UHS' wider influence in the market will help speed up the Foundations' growth.
"They bring expertise as a published authority on integrated treatment and also have excellent clinical programs and customer relationships," said Alan B. Miller, UHS' CEO and Chairman of the Board.
The UHS expects to complete the deal in late September or early October 2015 after receiving a final agreement with the Foundations. The hospital operator plans to add over 300 beds in eight outpatient and four residential facilities. The expansion plans include over 140 beds across all facilities.
The UHS manages over 200 healthcare families in the US. In 2014, UHS reported an $8 billion dollars in revenue. Half of its 2014 revenue stemmed from its mental healthcare business. The other half came from its facilities for radiation oncology, surgery and acute care. Apart from its facilities in the US, UHS operates facilities in the US Virgin Islands, Puerto Rico and United Kingdom.
