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University General Health System, Inc. (UGHS) Reports Improved Preliminary 2012 Information Vs. Year Prior

|Includes: University General Health System, Inc. (UGHSQ)

University General Health System, a multi-specialty health care delivery system with a location in both Houston and Dallas, Texas, yesterday provided preliminary results for its 2012 operations. The company has delayed the release of its fourth quarter and full year 2012 operating results pending the filing of its Annual Report.

The company expects full-year 2012 results to reflect occupancy of 58 percent in its flagship hospital in Houston, an 11 percent increase in occupancy as compared to 2011 levels.

Revenues for full-year 2012 are forecast to exceed $118 million, an increase of roughly 64 percent when compared with 2011 revenues of approximately $72 million. Actual net income will not be reported until final audited results are available, though the company said it anticipates that 2012 net income will also handily exceed 2011 levels.

"The continued growth of our regional delivery system has greatly contributed to our positive financial performance, and we are pleased with the integration of acquired operations and new physicians into our system during the past year," UGHS chairman and CEO Hassan Chahadeh, M.D. stated in the press release. "Since the acquisition of our Dallas hospital, we now have an opportunity to duplicate the successful model we have developed in Houston, and we look forward to continued growth in 2013."

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