Exhibit 99.1

FOR IMMEDIATE RELEASE

UNIVERSAL HEALTH SERVICES, INC. REPORTS

2011 SECOND QUARTER FINANCIAL RESULTS

Consolidated Results of Operations – Three-month periods ended June 30, 2011 and 2010:

KING OF PRUSSIA, PA – Universal Health Services, Inc. (NYSE: UHS) announced today that net income attributable to UHS was $103.6 million, or $1.04 per diluted share, during the second quarter of 2011 as compared to $65.6 million, or $.67 per diluted share, during the comparable prior year quarter. After adjusting the reported results for last year’s second quarter to neutralize the impact of the below-mentioned adjustments (no such adjustments were applicable to the second quarter of 2011), our adjusted net income attributable to UHS during the second quarter of 2010 was $66.7 million, or $.68 per diluted share.

Net revenues increased 42% to $1.90 billion during the second quarter of 2011 as compared to $1.34 billion during the second quarter of 2010. The increase in net revenues during the second quarter of 2011, as compared to the comparable quarter of the prior year, was due primarily to the revenues generated at the behavioral health care facilities acquired from Psychiatric Solutions, Inc. (“PSI”) in November, 2010.

“Despite the challenges of the weak economy which has continued to keep the demand for our acute care services muted, we are pleased with our improving payor mix trends and encouraged by the contribution of the large capital projects we’ve undertaken over the last few years”, said Alan B. Miller, Chief Executive Officer. “Meanwhile the fundamentals of our behavioral health business remain robust and the integration of our recent acquisition is tracking very positively.”

Consolidated Results of Operations – Six-month periods ended June 30, 2011 and 2010:

During the six-month period ended June 30, 2011, net income attributable to UHS was $217.8 million, or $2.20 per diluted share, as compared to $137.4 million, or $1.40 per diluted share, during the comparable prior year period. After adjusting the reported results for the first six months of last year to neutralize the impact of the below-mentioned adjustments (no such adjustments were applicable to the results for the first six months of 2011), our adjusted net income attributable to UHS during the six-month period ended June 30, 2010 was $138.5 million, or $1.41 per diluted share.

Net revenues increased 42% to $3.81 billion during the six-month period ended June 30, 2011 as compared to $2.69 billion during the first six months of 2010. The increase in net revenues during the first six months of 2011, as compared to the comparable prior year period, was due primarily to the revenues generated at the behavioral health care facilities acquired from PSI in November, 2010.

As indicated on the attached Schedules of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedules”), included in our net income attributable to UHS during the three and six-month periods ended June 30, 2010, was a net loss of $1.1 million, or $.01 per diluted share, consisting of: (i) a favorable after-tax adjustment of $10.2 million, or $.10 per diluted share, resulting from a reduction to our professional and general liability self-insurance reserves relating to years prior to 2010 based upon a reserve analysis, offset by; (ii) the unfavorable after-tax impact of $11.3 million, or $.11 per diluted share, resulting from the recording of transaction fees incurred in connection with our acquisition of PSI.

Acute Care Services – Three and six-month periods ended June 30, 2011 and 2010:

At our acute care hospitals owned during both periods (“same facility basis”), adjusted admissions (adjusted for outpatient activity) decreased 0.9% while adjusted patient days increased 1.6% during the second quarter of 2011, as compared to the second quarter of 2010. Net revenues at these facilities increased 6.1% during the second quarter of 2011 as compared to the comparable quarter of the prior year. At these facilities, net revenue per adjusted admission increased 7.1% while net revenue per adjusted patient day increased 4.4% during the second quarter of 2011 as compared to the comparable quarter of the prior year. On a same facility basis, the operating margin (net revenues less salaries, wages and benefits, other operating expenses, supplies expense and provision for doubtful accounts) at our acute care hospitals increased to 15.0% during the second quarter of 2011 as compared to 14.2% during the second quarter of 2010. The increased operating margin was due primarily to improved payor mix, higher acuity and strong commercial insurance pricing.

During the six-month period ended June 30, 2011, on a same facility basis, adjusted admissions decreased 0.2% while adjusted patient days increased 1.9% as compared to the comparable period of the prior year. Net revenues at these facilities increased 6.3% during the first six months of 2011 as compared to the comparable period of the prior year. At these facilities, net revenue per adjusted admission increased 6.5% while net revenue per adjusted patient day increased 4.4% during the first six months of 2011 as compared to the comparable period of the prior year. On a same facility basis, the operating margin at our acute care hospitals increased to 16.5% during the first six months of 2011 as compared to 15.2% during the comparable period of the prior year.

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 $239 million and $190 million during the three-month periods ended June 30, 2011 and 2010, respectively, and $462 million and $366 million during the six-month periods ended June 30, 2011 and 2010, respectively.

Behavioral Health Care Services – Three and six-month periods ended June 30, 2011 and 2010:

At our behavioral health care facilities, on a same facility basis, adjusted admissions increased 7.1% while adjusted patient days increased 3.0% during the second quarter of 2011 as compared to the second quarter of 2010. Net revenues at these facilities increased 6.2% during the second quarter of 2011 as compared to the comparable quarter in the prior year. At these facilities, net revenue per adjusted admission decreased 0.1% while net revenue per adjusted patient day increased 3.8% during the second quarter of 2011 as compared to the comparable quarter of the prior year. The operating margin at our behavioral health care facilities owned during both periods decreased to 26.7% during the second quarter of 2011 as compared to 27.4% during the second quarter of 2010.

During the six-month period ended June 30, 2011, on a same facility basis, adjusted admissions increased 6.9% while adjusted patient days increased 2.5% as compared to the comparable six-month period of the prior year. Net revenues at these facilities increased 6.3% during the first six months of 2011 as compared to the comparable period in the prior year. At these facilities, net revenue per adjusted admission decreased 0.2% while net revenue per adjusted patient day increased 4.1% during the first six months of 2011 as compared to the comparable prior year period. The operating margin at our behavioral health care facilities owned during both periods decreased to 26.5% during the first six months of 2011 as compared to 26.8% during the comparable period in the prior year.

Conference Call Information:

We will hold a conference call for investors and analysts at 9:00 a.m. (eastern time) on July 28, 2011. The dial-in number is 1-877-648-7971. A digital recording of the conference call will be available two hours after the completion of the conference call on July 28, 2011 and will continue through midnight on August 11, 2011. The recording can be accessed by calling 1-800-642-1687 and entering the pass code 78569408. A live broadcast of the call will be available on our web site at www.uhsinc.com. The webcast will also be available through Thompson StreetEvents Network at www.earnings.com or www.streetevents.com, a password-protected event management site for institutional investors.

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 hospitals, behavioral health facilities and ambulatory centers throughout the United States, 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, 2010 and in Item 2-Forward Looking Statements and Risk Factors in our Form 10-Q for the quarterly period ended March 31, 2011), may cause the results to differ materially from those anticipated in the forward-looking statements. 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, future events or otherwise.

We believe that operating income, operating margin, adjusted net income attributable to UHS, adjusted net income attributable to UHS per diluted share and earnings before interest, taxes, depreciation and amortization (“EBITDA”), which are non-GAAP financial measures (“GAAP” is

Generally Accepted Accounting Principles in the United States of America), are helpful to our investors as measures of our operating performance. In addition, we believe that, when applicable, comparing and discussing our financial results based on these measures, as calculated, is helpful to our investors since it neutralizes the effect in each year of items 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 amounts that may be reflected in the current or prior year financial statements that relate to prior periods. To obtain a complete understanding of our financial performance these measures should be examined in connection with net income, determined in accordance with GAAP, as presented in the condensed consolidated financial statements and notes thereto in this report or in our other filings with the Securities and Exchange Commission including our Report on Form 10-K for the year ended December 31, 2010 and Report on Form 10-Q for the quarterly period ended March 31, 2011. Since the items included or excluded from these measures are significant components in understanding and assessing financial performance under GAAP, these measures should not be considered to be alternatives to net income as a measure of our operating performance or profitability. Since these measures, as presented, are not determined in accordance with GAAP and are thus susceptible to varying calculations, they may not be comparable to other similarly titled measures of other companies. Investors are encouraged to use GAAP measures when evaluating our financial performance.

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Universal Health Services, Inc.

Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)

Universal Health Services, Inc.

Footnotes to Consolidated Statements of Income

(in thousands, except per share amounts)

(unaudited)

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedule”)

For the three months ended June 30, 2011 and 2010

(in thousands, except per share amounts)

(unaudited)

Calculation of “EBITDA”

Calculation of Adjusted Net Income Attributable to UHS

Universal Health Services, Inc.

Schedule of Non-GAAP Supplemental Consolidated Statements of Income Information (“Supplemental Schedule”)

For the six months ended June 30, 2011 and 2010

(in thousands, except per share amounts)

(unaudited)

Calculation of “EBITDA”

Calculation of Adjusted Net Income Attributable to UHS

Universal Health Services, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

Universal Health Services, Inc.

Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Universal Health Services, Inc.

Supplemental Statistical Information

(un-audited)

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE THREE MONTHS ENDED

JUNE 30, 2011

AS REPORTED:

UNIVERSAL HEALTH SERVICES, INC.

SELECTED HOSPITAL STATISTICS

FOR THE SIX MONTHS ENDED

JUNE 30, 2011

AS REPORTED: