Universal Health Services Inc. filed SEC Form 8-K: Other Events
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Item 8.01 |
Other Events. |
Pavilion Behavioral Health System (the “Pavilion”), an indirect subsidiary of Universal Health Services, Inc. (the “Company”), is a defendant in a lawsuit filed in Champaign County, Illinois, relating to the sexual assault of one minor patient by another minor patient in 2020. Plaintiff asserted claims of negligence and misrepresentation. The Pavilion denied any liability.
The case went to trial in March of 2024. On March 28, 2024, a jury awarded plaintiff compensatory damages of $60 million and punitive damages of $475 million. Based on a search of verdicts in comparable cases, the magnitude of this verdict was unexpected and is unprecedented for a single-plaintiff injury case of this type in Champaign County, Illinois. The Pavilion is evaluating all legal options and intends to challenge this verdict in post-judgment trial court proceedings and on appeal.
We can make no assurances regarding the ultimate outcome of the case or what damages will ultimately be awarded. While the Pavilion has professional liability insurance to cover a portion of these amounts, the final resolution of this case may have a material adverse effect on the Company.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Universal Health Services, Inc. |
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By: |
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/s/ Steve Filton |
Name: Steve Filton |
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Title: Executive Vice President and Chief Financial Officer |
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Date: April 1, 2024