Universal Health Services Files 8-K

TL;DR

UHS filed an 8-K on 10/11 for an event on 10/10, details under 'Other Events'.

AI Summary

Universal Health Services, Inc. (UHS) filed an 8-K on October 11, 2024, reporting an event that occurred on October 10, 2024. The filing is categorized under 'Other Events' and does not specify any material financial transactions or significant corporate changes within the provided text.

Why It Matters

This filing indicates a regulatory disclosure by Universal Health Services, Inc., though the specific event triggering the 'Other Events' category is not detailed in the provided excerpt.

Risk Assessment

Risk Level: low — The filing is a standard 8-K disclosure under 'Other Events' without immediate indication of significant financial or operational risk.

Key Players & Entities

• UNIVERSAL HEALTH SERVICES INC (company) — Registrant
• 0000352915 (company) — Central Index Key
• 1-10765 (company) — SEC File Number
• 23-2077891 (company) — IRS Employer Identification No.
• October 10, 2024 (date) — Date of earliest event reported
• October 11, 2024 (date) — Date of Report / Filing Date

FAQ

Key Financial Figures

• $60 million — nce and awarded compensatory damages of $60 million and punitive damages of $475 million, a
• $475 m — of $60 million and punitive damages of $475 million, and a related judgment was enter
• $475 million — d a remittitur of punitive damages from $475 million to $120 million. The court denied the P
• $120 million — f punitive damages from $475 million to $120 million. The court denied the Pavilion's reques

Filing Documents

• uhs-20241010.htm (8-K) — 40KB
• 0000950170-24-114325.txt ( ) — 159KB
• uhs-20241010.xsd (EX-101.SCH) — 30KB
• uhs-20241010_htm.xml (XML) — 5KB

01 Other Events

Item 8.01 Other Events. As previously disclosed on Forms 8-K on April 1, 2024 and September 30, 2024, and Forms 10-Q for the quarterly periods ended March 31, 2024 and June 30, 2024, the Pavilion Behavioral Health System (the "Pavilion"), an indirect subsidiary of Universal Health Services, Inc., (the "Company") is a defendant in a lawsuit filed in Champaign County, Illinois, relating to the sexual assault of one minor patient by another minor patient in 2020. The case went to trial in March of 2024, and on March 28, 2024, a jury returned a verdict for ordinary negligence and awarded compensatory damages of $60 million and punitive damages of $475 million, and a related judgment was entered against the Pavilion. The Pavilion filed post-trial motions, among other items, contesting the excessiveness of the damage awards. In an order dated October 10, 2024, the trial court ordered a remittitur of punitive damages from $475 million to $120 million. The court denied the Pavilion's request for reduction of compensatory damages. Pursuant to Illinois law and procedure, plaintiff has 21 days from the date of the order to either accept the remittitur of the punitive damages or refuse the remittitur, which would result in further legal proceedings. The Pavilion intends to appeal the remaining judgment after plaintiff makes an election regarding the circuit court's remittitur. Although we can make no assurances regarding the ultimate outcome of this matter, or what damages will ultimately be awarded, its final resolution could have a material adverse effect on the Company. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Universal Health Services, Inc. By: /s/ Steve Filton Name: Steve Filton Title: Executive Vice President and Chief Financial Officer Date: October 11, 2024

View Full Filing

View this 8-K filing on SEC EDGAR