MINNEAPOLIS–(BUSINESS WIRE)–Universal Hospital Services, Inc. (“UHS”), today announced that as of 5:00 p.m., New York City time, on August 6, 2012 (the “Consent Date”), approximately $318.0 of its outstanding $405.0 million aggregate principal amount 8.50%/9.25% Second Lien Senior Secured PIK Toggle Notes due 2015 (CUSIP No. 91359PAF7) (the “Notes”) have been tendered pursuant to the UHS cash tender offer for any and all of the Notes and solicitation of consents (the “Tender Offer”), as described in the Offer to Purchase and Consent Solicitation Statement and a related Consent and Letter of Transmittal, dated July 24, 2012 (the “Offer to Purchase and Consent Solicitation Statement”). UHS has accepted for purchase and paid for all Notes that were validly tendered and not withdrawn prior to the Consent Date.
In addition, UHS has received consents from holders of approximately 78.48% of the Notes as of the Consent Date. The consents are sufficient to effect the proposed amendments to the indenture governing the Notes (the “Indenture”) as set forth in the Offer to Purchase and Consent Solicitation Statement. The amendments would eliminate the right of the holders of the Notes to benefit from substantially all the restrictive covenants and certain event of default provisions in the Indenture. UHS has executed a supplemental indenture effecting the proposed amendments to the Indenture, and the supplemental indenture is binding on the holders of Notes not purchased in the Tender Offer.
UHS has retained Barclays, BofA Merrill Lynch and RBC Capital Markets to serve as the Dealer Managers for the tender offer. Questions regarding the tender offer may be directed to Barclays at (800) 438-3242 (toll free) or (212) 528-7581 (collect), BofA Merrill Lynch at (888)-292-0070 (toll free) or (980) 387-3907 or RBC Capital Markets at (877) 381-2099 (toll free) or (212) 618-7822. Requests for documents may be directed to Global Bondholder Services Corporation, the Information Agent and Tender Agent for the tender offer, and banks and brokers can call collect at (212) 430-3774. All others can call toll free at (866) 807-2200.
This press release is not an offer to purchase or a solicitation of consents, which may be made only pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement and related materials and in accordance with applicable securities laws. This press release shall not constitute a notice of redemption of the Notes.
About Universal Hospital Services, Inc.
Universal Hospital Services, Inc. is a leading nationwide provider of medical equipment management and service solutions to the health care industry. UHS manages more than 660,000 pieces of medical equipment for over 8,675 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
This 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 ability to satisfy the conditions to consummate the tender offer, which 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 UHS’s filings with the Securities and Exchange Commission.
Universal Hospital Services, Inc.
Susan Wolf, 952-607-3109
Vice President, Finance & Treasurer