On August 13, 2018, UHS announced that its holding company has entered into a definitive merger agreement with Federal Street Acquisition Corp. (FSAC) pursuant to which, FSAC and UHS will form a new, publicly traded company with a new name — Agiliti.



Universal Hospital Services, Inc. Announces 2014 Full Year Results

Posted: March 23, 2015


Universal Hospital Services, Inc. (“UHS”), a leading provider of health
care technology management and service solutions, today announced
financial results for the twelve months ended December 31, 2014.

Total revenues for the twelve months ended December 31, 2014 were $436.7
million, representing an $8.3 million or 1.9% increase from total
revenues of $428.4 million for the same period of 2013.

Adjusted EBITDA for the twelve months ended December 31, 2014 was $119.7
million compared to adjusted EBITDA of $119.6 million for the same
period of 2013.

Conference Call Dial-in Information

UHS will hold its quarterly conference call to discuss 2014 full year
results on Tuesday, March 24, 2015 at 9:00 a.m. Eastern Time (8:00 a.m.
Central Time).

To participate, call (855) 539-7565 and advise the operator that you
would like to participate in the UHS Full Year 2014 Earnings Conference
Call. A recording of this call will be available from 12:00 p.m. Eastern
Time on March 24, 2015 through April 24, 2015 by calling (855) 859-2056;
enter conference ID 10555849.

UHS will also use a slide presentation to facilitate the conference call
discussion. A copy of the presentation may be obtained via the company’s
website at www.uhs.com
in the “Who We Are” section. From this section, select “Financials” then

Adjusted EBITDA Reconciliation

Adjusted EBITDA is defined by UHS as Earnings Before Interest, Taxes,
Depreciation and Amortization (“EBITDA”) before management and board
fees, stock option expense, reorganization costs, ASC 805 impact, loss
on extinguishment of debt, transaction and related costs, and
non-recurring, unusual or infrequent expenses, which may not be
calculated consistently among other companies applying similar reporting
measures. EBITDA and Adjusted EBITDA are not intended to represent an
alternative to operating income or cash flows from operating, financing
or investing activities (as determined in accordance with generally
accepted accounting principles (“GAAP”)) as a measure of performance,
and are not representative of funds available for discretionary use due
to UHS’ financing obligations. EBITDA is included because it is a widely
accepted financial indicator used by certain investors and financial
analysts to assess and compare companies and is an integral part of UHS’
debt covenant calculations. Adjusted EBITDA is included because UHS’
financial guidance and certain compensation plans are based upon this
measure. Management believes that Adjusted EBITDA provides an important
perspective on the company’s ability to service its long-term
obligations, the company’s ability to fund continuing growth, and the
company’s ability to continue as a going concern. A reconciliation of
consolidated net income (loss) to EBITDA and Adjusted EBITDA is included


(In millions) December YTD




Net loss attributable to UHS $   (66.5 ) $   (43.0 )
Interest expense 53.3 55.0
Provision (benefit) for income taxes (13.1 ) (0.2 )
Depreciation and amortization     100.1           98.8  
EBITDA 73.8 110.6
Intangible asset impairment charge 34.9
Management, board & strategic fees 5.6 5.4
Loss on extinguishment of debt 1.9
Reorganization costs 3.1 0.2
Stock option expense     2.3           1.5  
Adjusted EBITDA $   119.7       $   119.6  

About Universal Hospital Services, Inc.

Universal Hospital Services, Inc. is a leading nationwide provider of
health care technology management and service solutions to the health
care industry. UHS owns or manages more than 700,000 units of medical
equipment for over 7,000 national, regional and local acute care
hospitals and alternate site providers in all 50 states. For more than
75 years, UHS has delivered management and service solutions that help
clients reduce costs, increase operating efficiencies, improve caregiver
satisfaction and support optimal patient outcomes.

Universal Hospital Services, Inc.
6625 West 78th Street,
Suite 300
Minneapolis, MN 55439

Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995:
Universal Hospital Services, Inc., believes statements
in this presentation looking forward in time involve risks and
uncertainties. The following factors, among others, could adversely
affect our business, operations and financial condition causing our
actual results to differ materially from those expressed in any
forward-looking statements: our history of net losses and substantial
interest expense; our need for substantial cash to operate and expand
our business as planned; our substantial outstanding debt and debt
service obligations; restrictions imposed by the terms of our debt; a
decrease in the number of patients our customers are serving; our
ability to effect change in the manner in which healthcare providers
traditionally procure medical equipment; the absence of long-term
commitments with customers; our ability to renew contracts with group
purchasing organizations and integrated delivery networks; changes in
reimbursement rates and policies by third-party payors; the impact of
health care reform initiatives; the impact of significant regulation of
the health care industry and the need to comply with those regulations;
the effect of prolonged negative changes in domestic and global economic
conditions; difficulties or delays in our continued expansion into
certain of our businesses/geographic markets and developments of new
businesses/geographic markets; additional credit risks in increasing
business with home care providers and nursing homes, impacts of
equipment product recalls or obsolescence; increases in vendor costs
that cannot be passed through to our customers; and other Risk Factors
as detailed in our annual report on Form 10-K for the year ended
December 31, 2014, as well as our other filings with the Securities and
Exchange Commission.


Universal Hospital Services, Inc.
James Pekarek, 952-607-3054
Executive Vice President and Chief Financial Officer