LANCASTER COMMUNITY RESOLD PENNSYLVANIA CHAIN TO BUY MEDICAL FACILITY.Byline: Karen Maeshiro Staff Writer LANCASTER - A Pennsylvania-based hospital chain that has proposed building a hospital in Palmdale announced Tuesday that it has agreed to buy Lancaster Community Hospital This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. . Universal Health Services Universal Health Services, Inc. NYSE: UHS is a Fortune 500 company based in King of Prussia, Pennsylvania. This company is one of the nation's largest health care management companies, operating acute care hospitals, behavioral health facilities and ambulatory centers Inc. will acquire Lancaster Community from a Florida health-care company that just last month said it was buying the facility from Lancaster Community's parent company. Palmdale city officials said Universal is continuing with plans to build a 120-bed hospital on Palmdale's west side. ``I've been assured by them that they are continuing with their contractual obligations with us,'' City Manager Bob Toone said. Universal officials could not be reached Tuesday for comment. In a statement, the company said it had signed an agreement to buy the 117-bed, 600-employee Lancaster Community from Health Management Associates Inc. of Naples, Fla. Lancaster Community was one of four medical facilities sold last month by Texas-based Clarent Hospital Corp. to Health Management, which operates 43 hospitals primarily in the Southeast and Southwest. ``Although Lancaster Community Hospital and its market service area fit our acquisition criteria, the geographic location does not integrate as well with the existing family of HMA (High Memory Area) In PCs, the first 64K of extended memory from 1024K to 1088K, which can be accessed by DOS. It is managed by the HIMEM.SYS driver. It was discovered by accident that this area could be used by DOS, even though it was beyond the traditional hospitals,'' said Joseph Vumbacco, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Health Management in a statement. Health Management said the Universal agreement was ``an integral component of the previously announced agreement to acquire four Clarent hospitals,'' the statement said. Clarent was formerly known as Paracelsus Healthcare Corp., which emerged from Chapter 11 bankruptcy several months ago. The name change to Clarent was part of its reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. . Universal Health Services was founded in 1978 and is now the country's third-largest hospital management company, operating acute-care hospitals, behavioral health centers, ambulatory surgery centers and radiation oncology radiation oncology n. The branch of radiology that deals with the use of ionizing radiation to treat cancers. radiation oncology centers. Universal operates in 22 states, Washington, D.C., Puerto Rico and France. Lancaster Community produces about $50 million of annual net revenues. The acquisition is subject to regulatory approval and is expected to be completed before the end of the year. Universal Health Services is headquartered in King of Prussia King of Prussia, industrialized suburban area (1990 pop. 18,406), Montgomery co., SE Pa. It has glass and steel fabricating, food processing, printing and publishing, and varied manufacturing (textiles, liquified petroleum gas, water-treatment and electrical , Pa. |
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