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Universal Medical history
Universal Medical company history timeline
In 1983 Universal opened the first hospital that the company had constructed rather than purchased.
After divesting itself of the River West Medical Center, a general hospital in Plaquemine, Louisiana, Universal had 30 facilities on its roster, and in March 1984 it reported annual earnings of $9.8 million.
In November 1985, Universal further rearranged its stock structure in an effort to strengthen its already formidable defenses against an unwanted corporate takeover.
By the spring of 1985, Universal's steady growth had made it the sixth-largest hospital management firm in the United States, but the company's aggressive pace of acquisitions had come at the cost of a sizable debt.
In addition, by the end of 1986, Universal's debts had reached $317 million, and its seven-year streak of rising profits had come to an end, as net income fell to $1.7 million, a drop of $20 million from the year before.
In response to this growing fiscal crisis, in 1987 Universal's Chairman Miller adopted a novel financial solution.
However, the company had also saddled itself with $13 million a year in rental payments on the properties it had previously owned. As a result of this move, Universal's profits rose during 1987 to $11.8 million, but still did not attain their previous levels.
In May 1990 the group again increased their stake, to 10.3 percent, and in July, it was raised to 11.4 percent, which the Bass family characterized as a simple investment.
Also in 1990 Universal inaugurated a quality management department in an effort to make its existing properties more profitable.
These moves helped Universal to rack up profits of $20.3 million in 1991, its fourth consecutive year of improved profits.
and recognized him for helping the company achieve a 3,715 percent total shareholder returns since 1995.
The publication also ranked UHS #960 on its Global 2000 list.
for 2011 by The Joint Commission.
of America's largest corporations for 2011.
as Top Performers on Key Quality Measures® for 2012.
annual ranking #324 in the list of “America’s Largest Corporations” for 2015.
UHS again ranked by Fortune among World’s Most Admired Companies in 2018
UHS ACOS Saved Medicare $900 Million in 2019
Prominence Health Plan ACOs Saved Medicare $84.7 million in 2020
June 29, 2021 — Joint venture partners Beaumont Health and Universal Health Services (NYSE: UHS) announced the name of their new behavioral health hospital: Beaumont Behavioral Health.
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Universal Medical competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| UniversalMed Supply | - | $1.8M | 62 | - |
| Clinica Sierra Vista | 1971 | $1.9B | 3,000 | 129 |
| Atlanta Gastroenterology Associates | 1973 | $62.0M | 600 | 14 |
| The Family Health Centers of Asheville | 1978 | $50.0M | 200 | 205 |
| Best Doctors | 1989 | $62.5M | 750 | 4 |
| Charles Drew Health Center | 1983 | $10.0M | 50 | 14 |
| Wright State Physicians | 1977 | $50.0M | 360 | - |
| Atlanta Center for Reproductive Medicine | - | $7.5M | 77 | 9 |
| Peak Vista CHC | 1971 | $76.0M | 564 | 78 |
| Atlantic Medical Imaging | 1964 | $45.0M | 200 | 100 |
Universal Medical history FAQs
Zippia gives an in-depth look into the details of Universal Medical, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Universal Medical. The employee data is based on information from people who have self-reported their past or current employments at Universal Medical. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Universal Medical. The data presented on this page does not represent the view of Universal Medical and its employees or that of Zippia.
Universal Medical may also be known as or be related to Universal Medical, Universal Medical Inc, Universal Medical Inc., Universal Medical Services INC and Universal Medical Services, Inc.