Steve Filton Chief Financial Officer

UNIVERSAL HEALTH SERVICES, INC. REPORTS 2012 FOURTH QUARTER AND FULL YEAR EARNINGS AND

2013 EARNINGS GUIDANCE

Consolidated Results of Operations, As Reported Three and twelve-month periods ended December 31, 2012 and 2011:

KING OF PRUSSIA, PA Universal Health Services, Inc. (NYSE: UHS) announced today that its reported net income attributable to UHS

was $135.5 million, or $1.39 per diluted share, during the fourth quarter of 2012 as compared to $95.3 million, or $.98 per diluted share, during the comparable quarter of 2011. Net revenues increased 6% to $1.76 billion during the fourth quarter of

2012 as compared to $1.66 billion during the fourth quarter of 2011.

Reported net income attributable to UHS was $443.4

million, or $4.53 per diluted share, during the twelve-month period of 2012 as compared to $398.2 million, or $4.04 per diluted share, during the 2011 full year period. Net revenues increased 3% to $6.96 billion during the twelve-month period of

2012 as compared to $6.76 billion during the comparable 2011 twelve-month period.

Consolidated Results of Operations, As Adjusted

Three-month periods ended December 31, 2012 and 2011:

For the three-month period ended December 31,

2012, our adjusted net income attributable to UHS, as calculated on the attached Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information ( Supplemental Schedule ), was $98.0 million, or $1.00 per diluted share, as

compared to $88.8 million, or $.91 per diluted share, during the fourth quarter of 2011.

As reflected on the Supplemental

Schedule, included in our reported results during the fourth quarter of 2012, was an aggregate net favorable after-tax impact of $37.4 million, or $.39 per diluted share, consisting of: (i) a favorable after-tax impact of approximately $15.5

million, or $.16 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2012, based upon a reserve analysis; (ii) a favorable after-tax impact of approximately

$16.4 million, or $.17 per diluted share, resulting from the gain realized on the sale of Auburn Regional Medical Center which was divested in October, 2012, and; (iii) a favorable after-tax impact of approximately $5.5 million, or $.06 per

diluted share, related to the incentive income and expenses recorded in connection with the implementation of electronic health records ( EHR ) applications at our acute care hospitals (as discussed below in Accounting for HITECH Act

incentive income and EHR expenses).

As reflected on the attached Supplemental Schedule, included in our net income

attributable to UHS during the three-month period ended December 31, 2011, was the favorable after-tax impact of $6.5 million, or $.07 per diluted share, resulting from a reduction to our professional and general liability self-insurance

reserves relating to years prior to 2011, based upon a reserve analysis.

Consolidated Results of Operations, As Adjusted Twelve-month periods ended December 31,

For the twelve-month period ended December 31, 2012, our adjusted net income attributable to UHS,

as calculated on the attached Supplemental Schedule, was $406.4 million, or $4.15 per diluted share, as compared to $391.7 million, or $3.97 per diluted share, during the comparable twelve-month period of 2011.

As reflected on the Supplemental Schedule, included in our reported results during the twelve-month period ended December 31, 2012

was a net favorable aggregate after-tax impact of approximately $37.0 million, or $.38 per diluted share, consisting of the following:

As indicated on the attached Supplemental Schedule, included in our net income attributable

to UHS during the year ended December 31, 2011, was the favorable after-tax impact of $6.5 million, or $.07 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior

Acute Care Services Three and twelve-month periods ended December 31, 2012 and 2011:

During the fourth quarter of 2012, at our acute care hospitals owned during both periods ( same facility basis ), adjusted

admissions (adjusted for outpatient activity) increased 1.7% and adjusted patient days increased 1.4%, as compared to the fourth quarter of 2011. Net revenues at these facilities increased 3.1% during the fourth quarter of 2012 as compared to the

comparable quarter of the prior year. At these facilities, net revenue per adjusted admission increased 1.4% while net revenue per adjusted patient day increased 1.7% during the fourth quarter of 2012 as compared to the comparable quarter of the

prior year. On a same facility basis, the operating margin at our acute care hospitals decreased to 14.4% during the fourth quarter of 2012 as compared to 15.5% during the fourth quarter of 2011. We define operating margin as net revenues less

salaries, wages and benefits, other operating expenses and supplies expense (excluding the impact of the items mentioned above and excluding the EHR impact, as indicated on the Supplemental Schedule).

During the twelve-months ended December 31, 2012, at our acute care hospitals on a same facility basis, adjusted admissions

increased 0.2% and adjusted patient days increased 0.5%, as compared to the comparable twelve-month period of 2011. Net revenues at these facilities increased 0.4% during the full year of 2012 as compared to 2011. At these facilities, net revenue

per adjusted admission increased 0.2% while net revenue per adjusted patient day decreased 0.1% during the twelve month period of 2012, as compared to 2011. The operating margin at our acute care hospitals owned during both years decreased to 15.8%

during 2012, as compared to 17.2% during 2011.

We provide care to patients who meet certain financial or economic criteria

without charge or at amounts substantially less than our established rates. Because we do not pursue collection of amounts determined to qualify as charity care, they are not reported in net revenues or in accounts receivable, net. Our acute care

hospitals provided charity care and uninsured discounts, based on charges at established rates, amounting to $206 million and $248 million during the three-month periods ended December 31, 2012 and 2011, respectively, and $1.05 billion and $956

million during the twelve-month periods ended December 31, 2012 and 2011, respectively.

Behavioral Health Care Services

Three and twelve-month periods ended December 31, 2012 and 2011:

During the fourth quarter of 2012, at our

behavioral health care facilities on a same facility basis, adjusted admissions increased 5.0% while adjusted patient days increased 0.5%, as compared to the fourth quarter of 2011. Net revenues at these facilities increased 4.5% during the fourth

quarter of 2012, as compared to the comparable quarter in 2011. At these facilities, net revenue per adjusted admission decreased 0.5% while net revenue per adjusted patient day increased 4.0% during the fourth quarter of 2012 over the comparable

quarter in 2011. The operating margin at our behavioral health care facilities owned during both periods increased to 27.6% during the fourth quarter of 2012, as compared to 25.3% during the fourth quarter of 2011.

During the twelve-months ended December 31, 2012, at our behavioral health care

facilities on a same facility basis, adjusted admissions increased 5.0% while adjusted patient days increased 1.0%, as compared to the full year of 2011. Net revenues at these facilities increased 4.3% during the twelve-months of 2012, as compared

to the comparable twelve-month period of 2011. At these facilities, net revenue per adjusted admission decreased 0.7% while net revenue per adjusted patient day increased 3.2% during the full year of 2012 over 2011. The operating margin at our

behavioral health care facilities owned during both years increased to 27.7% during 2012 as compared to 26.3% during 2011.

for HITECH Act incentive income and EHR expenses:

The health information technology provisions of the American

Recovery and Reinvestment Act (referred to as the HITECH Act ) established criteria related to the meaningful use of electronic health records ( EHR ) for acute care hospitals and established requirements for the

Medicare and Medicaid EHR payment incentive programs.

During 2011, we began implementing EHR applications at certain of our

acute care hospitals and will continue to do so, on a hospital-by-hospital basis, until completion which is scheduled to occur by the end of June, 2013. As of December 31, 2012, EHR applications have been implemented at fourteen of our acute

care hospitals. Our acute care hospitals are eligible for Medicare and Medicaid EHR incentive payments upon implementation of the EHR application, assuming they meet the meaningful use criteria. As of December 31, 2012, eleven

hospitals met the meaningful use criteria.

As reflected on the Supplemental Schedule, our consolidated results of

operations for the three-month period ended December 31, 2012 includes the favorable after-tax impact of approximately $5.5 million, or $.06 per diluted share, recorded in connection with the implementation of EHR applications. This favorable

impact, which on a pre-tax basis amounted to $8.9 million, consists of $17.5 million of EHR incentive income offset by $3.4 million of salaries, wages, benefits and other operating expenses and $5.2 million of depreciation and amortization expense.

As reflected on the Supplemental Schedule, our consolidated results of operations for the year ended December 31, 2012

includes the favorable after-tax impact of approximately $1.9 million, or $.02 per diluted share, recorded in connection with the implementation of EHR applications. This favorable impact, which on a pre-tax basis amounted to $3.0 million, including

a $700,000 benefit from the net expense attributable to third-party, non-controlling ownership interests, consists of $30.0 million of EHR incentive income offset by $14.4 million of salaries, wages, benefits and other operating expenses and $13.3

million of depreciation and amortization expense.

During 2013, based upon our remaining scheduled EHR implementations and

anticipated meaningful use qualifications, we expect to record approximately $57 million of EHR incentive income and approximately $36 million of EHR-related incremental expenses (including $29 million of depreciation and amortization

expense) resulting in a net favorable after-tax impact of approximately $13 million, or $.13 per diluted share.

2013 Full Year Guidance:

Excluding the favorable $.13 per diluted share EHR impact mentioned above, our estimated range of net income attributable to UHS for the

year ended December 31, 2013, is $4.35 to $4.50 per diluted share. This guidance range represents an increase of approximately 5% to 8% over the adjusted net income attributable to UHS of $4.15 per diluted share for the year ended

December 31, 2012, as calculated on the attached supplemental schedule, and as discussed above.

During 2013, our net

revenues are estimated to increase approximately 6% to $7.41 billion, as compared to $6.96 billion during 2012.

range excludes the impact of items, if applicable, that are nonrecurring or non-operational in nature including items such as, but not limited to, gains on sales of assets and businesses, reserves for settlements, legal judgments and lawsuits and

other material amounts that may be reflected in our financial statements that relate to prior periods. It is also subject to certain conditions including those as set forth below in General Information, Forward-Looking Statements and Risk Factors

and Non-GAAP Financial Measures.

Acquisition of Ascend Health Corporation:

As previously announced, we completed the acquisition of Ascend Health Corporation ( Ascend ) in October, 2012. Ascend was the

largest private behavioral health provider with 9 owned or leased freestanding inpatient facilities located in 5 states including Texas, Arizona, Utah, Oregon and Washington.

Conference call information:

We will hold a conference call for

investors and analysts at 9:00 a.m. eastern time on March 1, 2013. The dial-in number is 1-877-648-7971.

broadcast of the conference call will be available on our website at www.uhsinc.com. A replay of the call will follow shortly after conclusion of the live call and will be available for one full year.

General Information, Forward-Looking Statements and Risk Factors and Non-GAAP Financial Measures:

Universal Health Services, Inc. ( UHS ) is one of the nation s largest hospital companies, operating acute care and

behavioral health hospitals and ambulatory centers nationwide and in Puerto Rico and the U.S. Virgin Islands. It acts as the advisor to Universal Health Realty Income Trust, a real estate investment trust (NYSE:UHT). For additional information on

the Company, visit our web site: http://www.uhsinc.com.

This press release contains forward-looking statements based

on current management expectations. Numerous factors, including those disclosed herein, those related to healthcare industry trends and those detailed in our filings with the Securities and Exchange Commission (as set forth in

Item 1A-Risk Factors and in Item 7-Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2012), may cause the results to differ materially from those anticipated in the

forward-looking statements. The operating pressures that we continue to experience in many of our acute care markets has increased the volatility of our financial results making estimation of future results more challenging. Many of the factors that

will determine our future results are beyond our capability to

control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. Readers should not place undue reliance on such forward-looking

statements which reflect management s view only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information,