Universal Hospital Services, Inc. (“UHS”) today announced that it
intends to offer (the “Offering”) up to $220 million in aggregate
principal amount of second lien senior secured notes (the “New Notes”).
The New Notes are being offered as additional debt securities under an
indenture pursuant to which UHS previously issued $425 million in
aggregate principal amount of 7.625% second lien senior secured notes
due in 2020. UHS intends to use the net proceeds of the Offering to,
among other things, (i) fund the repurchase, redemption or repayment of
all of its outstanding floating rate notes due 2015, (ii) pay fees and
expenses relating to the Offering and (iii) for general corporate
The New Notes will be the second lien senior secured obligations of UHS
and will be guaranteed, jointly and severally, on a second lien senior
secured basis, by our existing current and certain of our future
wholly-owned domestic subsidiaries. The Offering is subject to customary
conditions, and there can be no assurances that the Offering will be
The New Notes have not been registered under the Securities Act of 1933,
as amended (the “Securities Act”) or the securities laws of any other
jurisdiction. As a result, they may not be offered or sold in the United
States or to any U.S. persons except pursuant to an applicable exemption
from, or in a transaction not subject to, the registration requirements
of the Securities Act. The New Notes will be offered only to qualified
institutional buyers pursuant to Rule 144A under the Securities Act and
to non-U.S. persons outside the United States under Regulation S under
the Securities Act.
This news release does not constitute an offer to sell, or a
solicitation of an offer to buy, any securities. The Offering will be
made only by means of the confidential offering memorandum.
About Universal Hospital Services, Inc.
Hospital Services, Inc. is a leading nationwide provider of medical
equipment management and service solutions to the health care industry.
UHS manages more than 688,000 pieces of medical equipment for over 8,740
clients in all 50 states. For more than 70 years, UHS has delivered
management and service solutions that help clients reduce costs,
increase operating efficiencies, improve caregiver satisfaction and
support optimal patient outcomes.
Safe Harbor for Forward-Looking and Cautionary Statements
press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to risks and uncertainties,
including the risk that the proposed offering will not be consummated,
that may be described from time to time in UHS’ filings with the
Securities and Exchange Commission. Readers are cautioned not to place
undue reliance on the forward-looking statements contained herein, which
speak only as of the date hereof. UHS undertakes no obligation to
publicly update any forward-looking statement, whether as a result of
new information, future developments or otherwise, except as may be
required by law. Factors which could materially affect such
forward-looking statements are described in the confidential offering
memorandum prepared by UHS in connection with the Offering.
Universal Hospital Services, Inc.
Susan Wolf, 952-607-3109
Vice President, Finance & Treasurer