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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 12, 1996.
UNIVERSAL HOSPITAL SERVICES, INC.
(Exact name of registrant as specified in its charter)
Minnesota 0-20086 41-0760940
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
1250 Northland Plaza, 3800 West 80th Street, Bloomington, MN 55431-4442
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (612) 893-3200
Not Applicable
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On December 12, 1996, Universal Hospital Services, Inc. (the
"Company") announced that its Board of Directors had formed a Special Committee
of independent directors to carry out the process of evaluating alternatives to
enhancing shareholder value, including the possible sale of the Company and the
continued operation of the business of the Company as an independent company. A
copy of the press release is attached as Exhibit 99 to this Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
99. Press Release dated December 12, 1996.
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SIGNATURE
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, hereto duly authorized.
Date: December 13, 1996
UNIVERSAL HOSPITAL SERVICES, INC.
By /s/Thomas A. Minner
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Thomas A. Minner,
President and Chief
Executive Officer
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EXHIBIT INDEX
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99 Press Release dated December 12, 1996
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EXHIBIT 99
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact: David Dovenberg
Vice President, Finance
612/893-3252
Universal Hospital Services, Inc. Establishes
A Special Committee of the Board to Explore
Alternatives for Enhancing Shareholder Value
BLOOMINGTON, MN (December 12) - Universal Hospital Services, Inc. (NASDAQ:UHOS)
reported today that its Board of Directors has established a Special Committee
of its outside directors to carry out the process announced November 11, 1996,
to explore alternatives for enhancing shareholder value, including the possible
sale of the Company, giving due consideration to the interests of the Company's
employees, customers and other constituencies. Piper Jaffray Inc., as advisor to
the Special Committee, has been soliciting indications of interest from
potential purchasers of the Company and expects to report to the Special
Committee with respect to such indications of interest, as well as alternative
options or proposals, including the continued operation of the business as an
independent company, at an upcoming meeting in December.
Thomas A. Minner, President and Chief Executive Officer, said, "The formation of
the Special Committee permits the management to focus their efforts on the
Company's customers and vendors and allows UHS to carry forward with the
business of the Company unencumbered by the Board's evaluation process. We have
confidence in the judgment of the independent directors to act in the best
interests of the Company's shareholders, employees and other constituents."
Universal Hospital Services, Inc., provides movable medical equipment to
hospitals and other healthcare providers through equipment management programs
utilizing Pay-Per-Use/TM/ as the system for charging customers only for actual
equipment usage.
