by Brianna Crandall — February 29, 2012—University General Health System, Inc., a diversified, integrated multi-specialty health delivery system, recently announced that it has finalized the acquisition of Sybaris Group, LLC, a luxury hospitality service provider and facilities management company headquartered in Houston, Texas.
Sybaris Group provides environmental, food and nutrition, and FM services to twelve clients in the Houston metropolitan area, including University General Hospital. Sybaris, with nearly 100 employees, achieved almost $5.5 million in revenues and an estimated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $500,000 in the year that ended December 31, 2011. The acquisition, for 5 million shares of UGHS common stock, is expected to increase University General Health Systems’ shareholders’ equity by approximately $1.5 million.
Houston-based University General Health System, Inc. delivers concierge physician- and patient-oriented services by providing timely, innovative health solutions that they consider to be uniquely competitive, efficient, and adaptive in today’s health care delivery environment. The company currently operates one hospital, two free-standing emergency rooms, and one ambulatory surgical center in the Houston area. University General also owns three senior living facilities and manages six senior living facilities, and it plans to complete additional acquisitions in 2012 and future years in Houston and other markets.
