Saturday, August 1, 2015

Santorum quits $168,000/year part-time post at US-funded co.

Ex-US Sen. Rick Santorum is quitting the board of Universal Health Care, King of Prussia, as part of his longshot Presidential campaign.

Santorum quits $168,000/year part-time post at US-funded co.

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Rick Santorum, the US Senator (R-Pa.) voted out of office by Pennsylvanians in 2006, has quit his post as a member of the board of directors of Universal Health Services Inc., a  for-profit mental-health hospital chain that relies on taxpayer-funded programs for 38% of its revenues, "as a result of his recent and formal announcement" that he's running for President of the US, Universal said in a statement.

Santorum is saying good-bye to a post that paid him $168,000 in cash and stock last year for attending board and compensation committee meetings, where his duties included approving a $10 million CEO cash, stock and insurance compensation package for Universal boss Alan B. Miller. 

Universal relied on taxpayer-funded Medicare and Medicaid payments for 38% of its $5.6 billion in revenues last year, according to the company's annual report. The company collected profits totalling $230 million.


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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com, distefano251@gmail.com, 215.854.5194 or 302.652.2004.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

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