Initiating Coverage On Major ObamaCare Beneficiary University General Health Care System (UGHS) with Strong Buy $2.50 Target on @$600 Million Revenues by year end 2015
Initiating Coverage On Major ObamaCare Beneficiary University General Health Care System (UGHS) with Strong Buy $2.50 Target
University General Health System, Inc. (UGHS) provided some good news about its development of an acute care hospital in Alvin, Texas, a suburb of Houston. In the announcement, UGHS announced that all lawsuits related to the land investment, which previously delayed the project, have been dismissed with prejudice and that the project is being developed with great support from the City of Alvin.
The hospital is expected to be constructed on a 20-acre campus located on land that is being contributed as an investment by a local land owner. The location of the proposed hospital is approximately a 30-minute drive from the Company's flagship University General Hospital, in Houston, Texas. It is anticipated that local area physicians will participate in the project as real estate investors.
The hospital is anticipated to be developed in three phases. The first phase would include a 10-bed hospital, a 10-bay emergency room, and a diagnostic imaging center. Phase II would include the addition of operating rooms and ICU beds. Finally, Phase III would add additional beds as market conditions warrant.
"This new hospital development complements our growth strategy in furthering the regional expansion of the University General system and provides our physicians and patients access to a high quality healthcare facility close to their homes," stated Hassan Chahadeh, M.D., Chairman and Chief Executive Officer of University General Health System, Inc. "The large underserved market of 125,000 people that live and work within ten miles of Alvin, which is located just south of Houston. We estimate that there are currently 16,000 visits to emergency rooms and over 4,000 ambulance transports annually within the areas expected to be served by the Alvin Hospital. Working with the mayor and managers of the City of Alvin has been very encouraging, and we share their commitment to the health care needs of their community and constituents."
Want to know more about University General Health System? Check out our detailed report.
Source: MarketWired
Founder and Editor-in-Chief for NBTEquitiesResearch.com. Contributor and Anchor for the Fox News Channel and Fox Business Network 2000-2013. Chairman & CEO of NBT Group, Inc., a boutique private capital investment bank and investor relations organization.
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