Universal Health Services Acquires Cygnet Health Care
By HospiMedica International staff writers Posted on 15 Oct 2014 |
Hospital operator Universal Health Services (UHS; King of Prussia, PA, USA) has acquired Cygnet Health Care (Sevenoaks, United Kingdom) for around USD 335 million.
The transaction marks the return of UHS, the largest healthcare provider in the USA, to Europe. The behavioral health division of UHS currently operates 195 facilities in 37 US states and in Washington DC, Puerto Rico, and the US Virgin Islands providing comprehensive inpatient and outpatient mental health and substance abuse services, as well as a number of specialist programs for eating disorders, trauma, autism spectrum disorders, and neuropsychiatry services. It also operates an acute care division, providing medical and surgical services in 25 facilities.
The acquisition of Cygnet Health Care will add 17 facilities to UHS in the United Kingdom, which includes 15 inpatient behavioral health hospitals and two nursing homes with a total of 743 beds. The acquisition could be a first step in strategic globalization move motivated by the purchase in July 2014 of UK-based psychiatric hospital operator Partnerships in Care (PiC; Suffolk, United Kingdom) by UHS' rival Acadia Healthcare (Franklin, TN, USA).
“We are proud to have been chosen to continue Cygnet Health Care's long history of providing high quality healthcare in this very attractive market. Cygnet offers services for children, eating disorders and autism,” said Alan Miller, CEO and board chairman of UHS. “These facilities are very well run by a highly experienced and committed management team. We look forward to sharing best practices and building on their tradition of excellence as we look to grow and expand our services in the UK.”
“We are delighted to be combining Cygnet with UHS. Both companies have been in existence for many years and my overriding feeling is that we have a strong cultural fit with a mutual desire to provide the highest possible quality of patient care,” said David Cole, CEO of Cygnet. “We will be extending our care pathways, developing new specialist services, and opening new facilities with our new partners. Under UHS ownership we will be supported in developing new services, investing in existing services, extending the care pathway, and rewarding innovation.”
Related Links:
Hospital operator Universal Health Services
Cygnet Health Care
Partnerships in Care
The transaction marks the return of UHS, the largest healthcare provider in the USA, to Europe. The behavioral health division of UHS currently operates 195 facilities in 37 US states and in Washington DC, Puerto Rico, and the US Virgin Islands providing comprehensive inpatient and outpatient mental health and substance abuse services, as well as a number of specialist programs for eating disorders, trauma, autism spectrum disorders, and neuropsychiatry services. It also operates an acute care division, providing medical and surgical services in 25 facilities.
The acquisition of Cygnet Health Care will add 17 facilities to UHS in the United Kingdom, which includes 15 inpatient behavioral health hospitals and two nursing homes with a total of 743 beds. The acquisition could be a first step in strategic globalization move motivated by the purchase in July 2014 of UK-based psychiatric hospital operator Partnerships in Care (PiC; Suffolk, United Kingdom) by UHS' rival Acadia Healthcare (Franklin, TN, USA).
“We are proud to have been chosen to continue Cygnet Health Care's long history of providing high quality healthcare in this very attractive market. Cygnet offers services for children, eating disorders and autism,” said Alan Miller, CEO and board chairman of UHS. “These facilities are very well run by a highly experienced and committed management team. We look forward to sharing best practices and building on their tradition of excellence as we look to grow and expand our services in the UK.”
“We are delighted to be combining Cygnet with UHS. Both companies have been in existence for many years and my overriding feeling is that we have a strong cultural fit with a mutual desire to provide the highest possible quality of patient care,” said David Cole, CEO of Cygnet. “We will be extending our care pathways, developing new specialist services, and opening new facilities with our new partners. Under UHS ownership we will be supported in developing new services, investing in existing services, extending the care pathway, and rewarding innovation.”
Related Links:
Hospital operator Universal Health Services
Cygnet Health Care
Partnerships in Care
Latest Business News
- Johnson & Johnson Acquires Cardiovascular Medical Device Company Shockwave Medical
- Mindray to Acquire Chinese Medical Device Company APT Medical
- Olympus Acquires Korean GI Stent Maker Taewoong Medical
- Karl Storz Acquires British AI Specialist Innersight Labs
- Stryker to Acquire French Joint Replacement Company SERF SAS
- Medical Illumination Acquires Surgical Lighting Specialist Isolux
- 5G Remote-Controlled Robots to Enable Even Cross-Border Surgeries
- International Hospital Federation Announces 2023 IHF Award Winners
- Unprecedented AI Integration Transforming Surgery Landscape, Say Experts
- New WHO Guidelines to Revolutionize AI in Healthcare
- Getinge Acquires US-Based Medical Equipment Provider Healthmark Industries
- Global Surgical Lights Market Driven by Increasing Number of Procedures
- Global Capsule Endoscopy Market Driven by Demand for Accurate Diagnosis of Gastrointestinal Conditions
- Global OR Integration Market Driven by Need for Improved Workflow Efficiency and Productivity
- Global Endoscopy Devices Market Driven by Increasing Adoption of Endoscopes in Surgical Procedures
- Global Minimally Invasive Medical Devices Market Driven by Benefits of MIS Procedures