Encompass Health purchases land in St. Augustine, Florida and announces plans for future inpatient rehabilitation hospital

Rhea-AI Summary

Encompass Health Corp. (NYSE: EHC) has acquired land in St. Augustine, Florida, for a new 40-bed inpatient rehabilitation hospital aimed at supporting patients recovering from severe illnesses and injuries. This facility will enhance the company's existing network of 12 rehabilitation hospitals in Florida and will provide tailored rehabilitation services, including 24-hour nursing care and various therapies. The company is yet to establish a construction timeline for the new hospital, which aims to address the increasing demand for rehabilitative services in the St. Augustine area.

Positive

• Acquisition of land for a new 40-bed rehabilitation hospital in St. Augustine, enhancing EHC's service offerings.
• Expands Florida's existing network of 12 inpatient rehabilitation hospitals and ongoing projects, indicating growth strategy.

Negative

• No established construction timeline for the new hospital, posing uncertainty for investors.
• Forward-looking statements highlight risks including potential delays and regulatory challenges affecting project completion.

BIRMINGHAM, Ala., July 10, 2020 /PRNewswire/ -- Encompass Health Corp. (NYSE: EHC) today announced it has purchased land located at the northwest corner of Silver Lane and Highway 207 in St. Augustine, Florida for the future development of a 40-bed inpatient rehabilitation hospital to serve patients recovering from debilitating illnesses and injuries.

The planned hospital, once opened, will become part of Encompass Health's national network of inpatient rehabilitation hospitals and home health and hospice agencies. The Company's Florida footprint currently includes 12 inpatient rehabilitation hospitals, a hospital under construction in north Tampa, a planned hospital in Pensacola and 19 home health locations. A construction timeline for the hospital has not yet been established.

"This new, state-of-the-art hospital will help meet a growing need for intensive physical rehabilitative services in the St. Augustine area," said Linda Wilder, president of Encompass Health's southeast region. "Provided in a hospital setting, Encompass Health's services are tailored to meet each patient's complex needs and help them regain the strength and confidence they need to return to their community at their highest level of independence."

Services at Encompass Health inpatient rehabilitation hospitals complement those provided by local acute care hospitals. Offering 24-hour nursing care, physical, occupational and speech therapies, and a multi–specialty medical staff, the hospitals treat patients recovering from strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions.

About Encompass Health 
As a national leader in integrated healthcare services, Encompass Health (NYSE: EHC) offers both facility-based and home-based patient care through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. With a national footprint that includes 136 hospitals, 245 home health locations, and 83 hospice locations in 39 states and Puerto Rico, the Company is committed to delivering high-quality, cost-effective, integrated care across the healthcare continuum. Encompass Health is ranked as one of Fortune's 100 Best Companies to Work For. For more information, visit encompasshealth.com, or follow us on our newsroom, Twitter and Facebook.

Forward-Looking Statements
Statements contained in this press release which are not historical facts, such as those relating to the likelihood, timing and effects of the completion of this hospital project, are forward-looking statements. In addition, Encompass Health may from time to time make forward-looking public statements concerning the matters described herein. All such estimates, projections, and forward-looking information speak only as of the date hereof, and Encompass Health undertakes no duty to publicly update or revise such forward-looking information, whether as a result of new information, future events, or otherwise. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Encompass Health's actual results or events may differ materially from those anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors which could cause actual results or events to differ materially from those anticipated include, but are not limited to, the regulatory review and approval process, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings that may be brought by or against the Company; the possibility this project will experience unexpected delays; the continued spread of COVID-19, including the speed, depth, geographic reach and duration of the spread; the actions to be taken by Encompass Health in response to the COVID-19 pandemic; the ability to successfully complete and integrate this project consistent with Encompass Health's growth strategy, including realization of anticipated revenues, cost savings, and productivity improvements arising from the related operations and avoidance of unforeseen exposure to liabilities; changes in the regulation of the healthcare industry at either or both of the federal and state levels; competitive pressures in the healthcare industry and Encompass Health's response thereto; the hospital's ability to maintain proper local, state and federal licensing; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of Encompass Health's information systems; Encompass Health's ability to attract and retain nurses, therapists, and other healthcare professionals in a highly competitive environment with often severe staffing shortages and the impact on Encompass Health's labor expenses from potential union activity and staffing shortages; changes, delays in (including in connection with resolution of Medicare payment reviews or appeals), or suspension of reimbursement for Encompass Health's services by governmental or private payors; general conditions in the economy and capital markets; and other factors which may be identified from time to time in Encompass Health's SEC filings and other public announcements, including Encompass Health's Form 10-K for the year ended Dec. 31, 2019 and Form 10-Q for the quarter ended March 31, 2020.

Media Contact:
Hillary Carnel | 205 970-5912
hillary.carnel@encompasshealth.com

Investor Relations Contact:
Crissy Carlisle | 205 970-5860
crissy.carlisle@encompasshealth.com   

 

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SOURCE Encompass Health Corp.

FAQ

What recent development did Encompass Health announce on July 10, 2020?

Encompass Health announced the purchase of land in St. Augustine, Florida, for a future 40-bed inpatient rehabilitation hospital.

How many rehabilitation hospitals does Encompass Health have in Florida?

Encompass Health currently operates 12 inpatient rehabilitation hospitals in Florida.

What services will the new St. Augustine hospital provide?

The new hospital will offer tailored rehabilitation services including 24-hour nursing care, physical therapy, occupational therapy, and speech therapy.

What is the significance of the new hospital for Encompass Health's network?

The new hospital will enhance Encompass Health's national network of rehabilitation hospitals, addressing growing patient needs in the St. Augustine area.

Are there any risks associated with the new hospital project announced by Encompass Health?

Yes, the forward-looking statements indicate risks such as potential delays, regulatory challenges, and staffing shortages that may affect the project's completion.