Universal Health Services, King of Prussia, Pa., will sell its 81.5% interest in 14-hospital Medi-Partenaires, based in France, to Barclays Private Equity France and Cobalt Capital. UHS, which paid $75 million in 2001 for its stake in Medi-Partenaires, said it will have pre-tax proceeds of $295 million from the sale, after paying off some Medi-Partenaires-related debt. UHS also recently sold two hospitals in Puerto Rico for proceeds of $120 million. In looking at ways to boost the company's stock price, UHS executives also have studied selling or spinning off some of its psychiatric hospitals. UHS owns or operates 23 acute-care hospitals and 44 psychiatric hospitals. -- by Vince Galloro
UHS to sell interest in French hospital operator
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