Overview
Our principal business is owning and operating, through our subsidiaries, acute
care hospitals and outpatient facilities and behavioral health care facilities.
As of June 30, 2020, we owned and/or operated 356 inpatient facilities and 41
outpatient and other facilities including the following located in 37 states,
Washington, D.C., the United Kingdom and Puerto Rico:
Acute care facilities located in the U.S.:
• 26 inpatient acute care hospitals;
• 14 free-standing emergency departments, and;
• 6 outpatient centers & 1 surgical hospital.
Behavioral health care facilities (330 inpatient facilities and 20 outpatient
facilities):
Located in the U.S.:
• 183 inpatient behavioral health care facilities, and;
• 18 outpatient behavioral health care facilities.
Located in the U.K.:
• 144 inpatient behavioral health care facilities, and;
• 2 outpatient behavioral health care facilities.
Located in Puerto Rico:
• 3 inpatient behavioral health care facilities.
As a percentage of our consolidated net revenues, net revenues from our acute
care hospitals, outpatient facilities and commercial health insurer accounted
for 54% during each of the three and six-month periods ended June 30, 2020 and
2019. Net revenues from our behavioral health care facilities and commercial
health insurer accounted for 46% of our consolidated net revenues during each of
the three and six-month periods ended June 30, 2020 and 2019.
Our behavioral health care facilities located in the U.K. generated net revenues
of approximately $136 million and $144 million during the three-month periods
ended June 30, 2020 and 2019, respectively, and $273 million and $281 million
during the six-month periods ended June 30, 2020 and 2019, respectively. Total
assets at our U.K. behavioral health care facilities were approximately $1.192
billion as of June 30, 2020 and $1.270 billion as of December 31, 2019.
Services provided by our hospitals include general and specialty surgery,
internal medicine, obstetrics, emergency room care, radiology, oncology,
diagnostic care, coronary care, pediatric services, pharmacy services and/or
behavioral health services. We provide capital resources as well as a variety of
management services to our facilities, including central purchasing, information
services, finance and control systems, facilities planning, physician
recruitment services, administrative personnel management, marketing and public
relations.
Forward-Looking Statements and Risk Factors
You should carefully review the information contained in this Quarterly Report,
and should particularly consider any risk factors that we set forth in our
Annual Report on Form 10-K for the year ended December 31, 2019, our Quarterly
Report on Form 10-Q for the quarter ended March 31, 2020, this Quarterly Report
and in other reports or documents that we file from time to time with the
Securities and Exchange Commission (the "SEC"). In this Quarterly Report, we
state our beliefs of future events and of our future financial performance. This
Quarterly Report contains "forward-looking statements" that reflect our current
estimates, expectations and projections about our future results, performance,
prospects and opportunities. Forward-looking statements include, among other
things, the information concerning our possible future results of operations,
business and growth strategies, financing plans, expectations that regulatory
developments or other matters will not have a material adverse effect on our
business or financial condition, our competitive position and the effects of
competition, the projected growth of the industry in which we operate, and the
benefits and synergies to be obtained from our completed and any future
acquisitions, and statements of our goals and objectives, and other similar
expressions concerning matters that are not historical facts. Words such as
"may," "will," "should," "could," "would," "predicts," "potential," "continue,"
"expects," "anticipates," "future," "intends," "plans," "believes," "estimates,"
"appears," "projects" and similar expressions, as well as statements in future
tense, identify forward-looking statements. In evaluating those statements, you
should specifically consider various factors, including the risks related to
healthcare industry trends and those set forth in Item 1A. Risk Factors and Item
7. Management's Discussion and Analysis of Financial Condition and Results of
Operations-Forward Looking Statements and Risk Factors in our Annual Report on
Form 10-K for the year ended December 31, 2019, in
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