Universal Health Services, King of Prussia, Pa., signed a definitive agreement to sell two hospitals in Puerto Rico to local buyers for $120 million. The hospitals are 430-bed Hospital San Pablo in Bayamon and 180-bed Hospital San Pablo del Este in Fajardo. The buyers are Centro Medico, a Puerto Rican hospital operator, and HIMA San Pablo Properties. UHS will continue to own a psychiatric hospital and an eye surgery center in Puerto Rico among its 25 acute-care and 44 psychiatric hospitals in North America. The company said in late December that competition and bad-debt expense hurt its profits for the fourth quarter ended Dec. 31; it will report earnings for the quarter and 2004 on Feb. 24. -- by Vince Galloro
UHS agrees to sell two Puerto Rico hospitals
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