Vanguard Health Systems (VHS) 8-K Vanguard Health Systems Reports First Quarter Fiscal 2012 Results Outlook for Fiscal Year 2012 Issued

EXHIBIT 99.2

Vanguard Health Systems, Inc.
Supplementary Financial Information

Adjusted EBITDA Margin Presentation of Most Directly Comparable GAAP Financial Measure (Net Income/Loss Attributable to Vanguard Health Systems, Inc. Stockholders Margin) and Reconciliation of Adjusted EBITDA to Net Income/Loss Attributable to Vanguard Health Systems, Inc. Stockholders Margin

	Quarter ended September 30,
(in millions, unaudited)	2010			2011
Adjusted EBITDA	$	77.7		$	122.8
Total revenues		862.1			1,443.5
Adjusted EBITDA Margin		9.0	%		8.5	%
Adjusted EBITDA	$	77.7		$	122.8
Interest, net		(34.8	)		(45.8	)
Income tax benefit		2.4			13.6
Depreciation and amortization		(37.2	)		(62.6	)
Non-controlling interests		(1.0	)		2.3
Gain on disposal of assets		—			1.2
Equity method income		0.3			0.1
Stock compensation		(1.2	)		(0.7	)
Monitoring fees and expenses		(1.4	)		—
Acquisition related expenses		(3.7	)		(12.2	)
Debt extinguishment costs		—			(38.9	)
Impairment and restructuring charges		—			0.1
Pension credits		—			1.0
Income (loss) from discontinued operations, net of taxes		0.1			(0.1	)
Net income (loss) attributable to Vanguard Health Systems, Inc. stockholders	$	1.2		$	(19.2	)
Total revenues	$	862.1		$	1,443.5
Net income (loss) attributable to Vanguard Health Systems, Inc. stockholders margin		0.1	%		(1.3	)%