Universal Health Services, King of Prussia, Pa., reported a nearly 16% growth in profits for the first quarter -- to $52.8 million, or 84 cents a share, from $45.7 million, or 71 cents per share, in the year-ago quarter. The company attributed the improved earnings in part to a 1.9% admissions growth at facilities open for 12 months or more. Revenue increased 11.2% to $894.8 million. Universal's results are in contrast to the profit warning issued earlier this week by HCA, Nashville, which said its patient volume declined for the first quarter. HCA will report first-quarter earnings next week. Universal said adjusted admissions, accounting for inpatient and outpatient volume, climbed 2.7% at its 25 acute-care hospitals and 1.3% at its 39 behavioral healthcare facilities. -- by Vince Galloro
Universal reports profit growth as admissions rise
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