Universal Hospital Services, Inc. (“UHS”) today announced the successful
completion of its previously announced private offering (the “Offering”)
of $220 million in aggregate principal amount of its 7.625% second lien
senior secured notes due in 2020 (the “New Notes”). The New Notes were
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 purposes.
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 that
may be described from time to time in UHS’ filings with the Securities
and Exchange Commission. Factors which could materially affect such
forward-looking statements are described in such filings. 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.
Universal Hospital Services, Inc.
Susan Wolf, 952-607-3109
Vice President, Finance & Treasurer