Major for-profit hospital chain Universal Health Services on Tuesday announced plans to buy out a minority interest in six of its Las Vegas acute care hospitals currently held by a third party. The deal would cost UHS $445 million, which includes the purchase price and the return of equity to the investors.
Under terms of the deal, UHS would reclaim the stakes held in Centennial Hills Hospital Medical Center, Desert Springs Hospital, Spring Valley Hospital Medical Center, Summerlin Hospital Medical Center, Valley Hospital Medical Center and Henderson Hospital, which is currently under construction.
Las Vegas is a major market for UHS, with the hospitals it operates there accounting for about 14 percent of its revenue, according to its 2014 annual report.
"This transaction reflects our continued confidence in the performance of our hospitals in the Las Vegas market and, in particular, our enthusiasm for the opening of our newest hospital in Henderson, Nevada later this year," CEO Alan B. Miller said in a statement.
The company, which runs 24 hospitals, most recently reported a profit of $191 million in the first quarter of 2016, up $17 million from the year-ago period.
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