Billionaire Alan Miller, the founder and executive chairman of King of Prussia-based Universal Health Services, is the new owner of a stunning waterfront mansion in Florida, writes Brian Bandell for the Philadelphia Business Journal.

A trust in the name of Miller paid $14.05 million for the 5,901-square-foot home in the Admirals Cove neighborhood of Jupiter.

The property last sold for $2.6 million in 2014. It was fully renovated in 2020, said Jill Ann Perry-Zaborowski of EXP Realty, who represented the sellers.

“The most magnificent part of this home was the backyard,” said Perry-Zabrowski. “The backyard oasis is incredible.”

The 1990 four-bedroom, four-bathroom home stands on a 0.69-acre site along a canal that leads to the Intracoastal Waterway. Highlights include a pool, dock, a catering kitchen, putting green, and an entertainment room complete with a large screen.

Miller, who founded Universal Health Services in 1979, stepped down as the company’s CEO at the beginning of 2021 under the company’s long-standing succession plan.

He was succeeded by his son, Marc Miller.

Read more about Alan Miller’s waterfront mansion in Florida in the Philadelphia Business Journal.