8-K

UNITED STATES
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): June 7, 2005

UNITED SURGICAL PARTNERS INTERNATIONAL, INC.

(Exact name of Registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)	000-32837 (Commission File Number)	75-2749762 (I.R.S. Employer Identification Number)
15305 Dallas Parkway Suite 1600 Addison, Texas (Address of principal executive offices)		75001 (Zip code)

Registrant’s telephone number, including area code: (972) 713-3500

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

Investor Presentation

Item 7.01 REGULATION FD DISCLOSURE

     Attached hereto is a copy of materials dated June 2005 and prepared with respect to presentations to investors and others that may be made by senior officers of United Surgical Partners International, Inc. (the “Company”). These materials are also available on the Company’s website at www.unitedsurgical.com.

Item 9.01(c). EXHIBITS

99.1   Investor Presentation dated June 2005

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 thereunto duly authorized.

	UNITED SURGICAL PARTNERS INTERNATIONAL, INC.
	By:	/s/ Mark A. Kopser
		Mark A. Kopser
		Senior Vice President and
		Chief Financial Officer
		(Principal Financial Officer and duly
		authorized
		to sign this report on behalf of the
		Registrant)
Date: June 7, 2005

EXHIBIT INDEX

Exhibit
Number	Description
99.1	Investor Presentation dated June 2005

EX-99.1

Exhibit 99.1

Nasdaq Symbol USPI June 2005

SAFE HARBOR STATEMENT This presentation contains forward-looking statements, including those regarding United Surgical Partners International, Inc. and the services it provides. Investors are cautioned not to place an undue reliance on these forward- looking statements, which will speak only as of the date of this presentation. United Surgical Partners International, Inc. undertakes no obligation to publicly revise these forward-looking statements.

COMPANY OVERVIEW Attractive case and payor mix with minimal exposure to government reimbursement Strategic relationships with prominent not- for-profit health care systems Leading operator of short stay surgical facilities in the U.S. and United Kingdom Strong revenue and earnings growth Facility level operating discipline

FACILITIES 92 surgical facilities world-wide England Non-JV JV

Low risk cash flows from high margin specialties and reliable payors FAVORABLE REVENUE AND PAYOR MIX (1) Overview High margin, elective procedures 40% orthopedic and pain management Over 80% private pay Insurance companies favor low cost providers Low exposure to government reimbursement fluctuations 8% Medicare worldwide 2004 Payor Mix 2004 Revenue Mix 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr East 14 8 8 13 5 7 5 40 Orthopedic & Pain Mgmt Other Ophthalmology Plastic Gastrointestinal Ear, Nose & Throat Gynecology General Surgery 14% 8% 8% 13% 5% 7% 5% 40% 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr East 76 2 10 12 Private Insurance Self-Pay Other Government 76% 12% 10% 2%

INDUSTRY OVERVIEW

SURGERY CENTER BENEFITS ASCs are an important component of convenient access, cost efficient, quality health care: Enhanced efficiency for busy outpatient surgeons A caring, comfortable, efficient and easily accessible environment for patients and their families A cost effective alternative to the traditional hospital experience Predictability of surgical schedule Designed for high throughput Lower capital costs

RAPIDLY GROWING MARKET U.S. Outpatient Surgery Market (Surgeries in millions) Hospital Outpatient Surgeries Freestanding Facility Outpatient Surgeries 1981 6% 94% 3.8 1985 10% 90% 7.7 1990 17% 83% 13.3 1995 25% 75% 17.3 2002 29% 71% 26.2 Outpatient surgery has grown from 15% to over 75% of all surgeries since 1980

OPPORTUNITIES IN UNITED KINGDOM Approximately 30% of the population in the Greater London market accesses the private health care market Strategically located facilities Physician-driven health care Inherent limitations of National Health System Strong management team ? London

GROWTH STRATEGY

FOCUS ON INTERNAL GROWTH Same Facility Results ($ in millions) U.S. Net Revenue U.K. Net Revenue $21 $23 Q1 2005 Q1 2004 8% $153 $163 7% Q1 2005 Q1 2004

STRONG FACILITY OPERATIONS USPI's EDGE - Every Day Giving Excellence Efficient processes maximize clinical service to physicians and enhances productivity Focus on patient safety and satisfaction Staffing flexibility ensures appropriate staffing levels are 26% of total net revenues Emphasis on disciplined facility operations drives volume and efficiencies

DEVELOPMENT STRATEGY USPI will continue to implement a two- pronged development strategy Enter new markets with joint venture partners Expand existing relationships into new markets Establish new ventures with leading not-for-profit health care systems Add facilities in existing markets Majority of facility growth will come through de novo developments

HEALTH CARE SYSTEM PARTNERS Promotes physician alignment Leverages USPI's expertise Vehicle for expanding network 58 facilities in partnership with health care system partners (Las Vegas, Phoenix and 3 in S. California) BON SECOURS HEALTH SYSTEM, INC.

DE NOVO DEVELOPMENTS 15 of 16 de novo projects include a hospital partner Under Development Arizona 1 California 2 Michigan 1 Nevada 1 Texas 4 Virginia 1 Under Construction (Hospital Partner) Baton Rouge, Louisiana Dallas, Texas (Baylor Health Care System) (2) Houston, Texas (Memorial Herrmann) New Jersey (Meridian) Southern California (Catholic Healthcare West) (1)

FINANCIAL OVERVIEW

STRONG REVENUE GROWTH (1) ($ in millions) U.S U.K. (1) Continuing operations $243.8 80% 20% 2002 $310.6 80% 20% 2003 27% $389.5 2004 25% 78% 22% $90.4 Q1 2004 $115.7 28% Q1 2005 23% 20% 77% 80%

SAME FACILITY OPERATING INCOME MARGINS 25% 27% 29% 30% United Kingdom U.S. facilities without Hospital Partners Total U.S. U.S. facilities with Hospital Partners Q1 2005

RAPID EPS GROWTH (1) (1) Continuing operations $0.88 $0.64 2002 2003 37% $1.15 31% 2004 $0.27 Q1 2004 $0.36 Q1 2005 33%

CAPITALIZATION TO SUPPORT CONTINUED GROWTH ($ in millions) Cash and Equivalents Senior Debt Subordinated Debt Total Debt Total Shareholders' Equity Total Capitalization March 2005 $ 102.4 $ 119.1 149.0 $ 268.1 487.5 $ 755.6

CASH FLOW ANALYSIS ($ in millions) Cash Flow from Operations Maintenance Capital Expansion Capital De Novo Investment (7) Net Change in Ownership Cash Available for Acquisitions Acquisitions (13) 2004 $ 91 (14) 77 (10) (6) (13) $ 48 $112 Q1 2005 $ 42 (3) 39 (3) (1) (21) $ 14 -

Earnings Per Share 2004 $1.15 MILEPOSTS FOR SUCCESS Earnings Per Share $1.54-$1.58 2005

United Surgical Partners International Nasdaq Symbol USPI 12:35 PM 6/7/2005