Uni­ver­sal Health Ser­vices grew

Modern Healthcare - - Late News -

its third-quar­ter profit by nearly 22% year-over-year. The King of Prus­sia, Pa.-based in­vestor-owned sys­tem re­ported $171.7 mil­lion in net in­come dur­ing the quar­ter, up from $141.2 mil­lion dur­ing the same pe­riod in 2017. Net rev­enue rose by 4.2% to $2.65 bil­lion, com­pared with $2.54 bil­lion in the prior-year pe­riod. The com­pany’s third-quar­ter re­sults in­clude a $48 mil­lion pre-tax ad­di­tion to the re­serve it es­tab­lished in con­nec­tion with a Jus­tice De­part­ment in­ves­ti­ga­tion into false claims. When the com­pany re­ported its sec­ondquar­ter earn­ings in July, the re­serve con­tained $43 mil­lion. As of Sept. 30, the re­serve was roughly $90 mil­lion.

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