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Cygnet CEO David Cole announces acquisition by UHS

Friday 26th September was a momentous day for Cygnet Health Care, as it announced that it had been acquired by Universal Health Services (UHS). This follows an exhaustive search for a new strategic partner.

UHS is the largest and most respected healthcare provider in the USA. Established for 35 years, its Behavioural Health Division operates 195 facilities in 37 states; Washington, DC; Puerto Rico; and the US Virgin Islands. It provides comprehensive inpatient and outpatient mental health and substance abuse services, as well as a number of specialist programmes for eating disorders, trauma, autism spectrum disorders, and neuropsychiatry services. It also operates an Acute Care Division, providing medical and surgical services in 25 facilities.

The acquisition of Cygnet is the first of its kind by UHS outside of the Americas, and reflects the close cultural and philosophical fit between the two companies.

The stated mission of UHS is entirely consistent with Cygnet’s own values and principles:

“To provide superior quality healthcare services that: PATIENTS recommend to family and friends, PHYSICIANS prefer for their patients, PURCHASERS select for their clients, EMPLOYEES are proud of, and INVESTORS seek for long-term returns.”

UHS has done this for 35 years, and as a publicly quoted company has gone from strength to strength.

“We are proud to have been chosen to continue Cygnet Health Care’s long history of providing high quality healthcare in this very important sector. These facilities are very well run by a highly experienced and committed management team. We look forward to sharing best practices and building on their tradition of excellence as we look to grow and expand our services in the UK.”Alan B. Miller, CEO and Chairman of the Board, Universal Health Services, Inc.

David Cole, Cygnet’s CEO remarked “We are delighted to be combining Cygnet with UHS. Both companies have been in existence for many years and my overriding feeling is that we have a strong cultural fit with a mutual desire to provide the highest possible quality of patient care. We will be extending our care pathways, developing new specialist services, and opening new facilities with our new partners.

This is great news for Cygnet. Under UHS ownership we will be supported in developing new services, investing in existing services, extending the care pathway, and rewarding innovation.

Those of us who have had the pleasure of working with the UHS team are convinced that this provides the best possible future for Cygnet. The accents may be different, but we do speak the same language on so many issues. Their team understands mental health services, the pressures that people work under, and the risks that we have to manage. That is very valuable in starting on the next stage of Cygnet’s journey. ”

Information on UHS can be found at www.uhsinc.com.

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