Encompass Health Corporation - EHC STOCK NEWS

Encompass Health Corp. (NYSE: EHC) and Saint Alphonsus Health System announced a new joint venture for home health and hospice services in Idaho, effective January 1, 2022. This collaboration expands upon their existing joint venture for inpatient rehabilitation services established in 2019. The partnership aims to enhance the quality of patient care while reducing hospital readmissions, leveraging Encompass Health's expertise in home health and hospice.

Encompass Health Corporation (NYSE: EHC) announced on December 16, 2021, that it has received consents from holders of its 5.75% Senior Notes due 2025 for proposed amendments, completed on December 15, 2021. The amendments will proceed if a consent payment is made. Additionally, the company is extending the consent solicitation for holders of its 4.500%, 4.750%, and 4.625% Senior Notes, now expiring on January 12, 2022. All other terms remain unchanged, and the company retains the right to modify or terminate the solicitation at any time.

Encompass Health Corp. (NYSE: EHC) announced plans to establish a 40-bed inpatient rehabilitation hospital in Strongsville, Ohio, aimed at enhancing patient access to rehabilitation services in the Cleveland area. This facility will cater to patients recovering from conditions such as strokes and spinal cord injuries, and will provide services including 24-hour nursing care and various therapies. The construction timeline is yet to be announced. Currently, Encompass Health operates four inpatient rehabilitation hospitals in Ohio, indicating its commitment to expanding its national healthcare network.

Encompass Health Corporation (NYSE: EHC) announced a Consent Solicitation on December 9, 2021, seeking approval from holders of its Senior Notes for proposed amendments to facilitate the separation of its home health and hospice business, expected in H1 2022. The amendments aim to allow a spin-off contingent upon maintaining a consolidated net leverage of no more than 3.5 to 1.0. Consent will expire on December 15, 2021, with cash payments for valid consents ranging from $2.50 to $5.00 per $1,000 depending on the note series. The success of this solicitation is uncertain.

Encompass Health Corp. (NYSE: EHC) has announced plans to construct a new 40-bed inpatient rehabilitation hospital in Amarillo, Texas. This facility will offer specialized care for patients recovering from serious medical conditions such as strokes and spinal cord injuries, featuring private rooms and advanced therapy technologies. The project aims to extend the company's Texas operations, which already includes 26 rehabilitation hospitals. Construction details, including timelines, will be provided later. The new hospital is expected to enhance coordinated care in the region.

Encompass Health Corp. (NYSE: EHC) announced plans to construct a 27-bed inpatient rehabilitation hospital in Irmo, South Carolina, near Columbia. The facility is designed for future expansion to 50 beds and will begin construction in Q3 2022, with services expected to commence in Q4 2023. The hospital aims to provide care for patients recovering from serious conditions, including strokes and spinal cord injuries, and will feature private rooms and a specialized therapy gym. This project expands Encompass Health's existing network, which includes eight rehabilitation hospitals in South Carolina.

Encompass Health Corporation (NYSE: EHC) reported solid third-quarter results with a 9.4% increase in net operating revenues, reaching $1,284.8 million, compared to $1,173.9 million in Q3 2020. Adjusted EBITDA grew by 6.7% to $245.6 million. EPS from continuing operations rose 28.2% to $1.00. However, the home health and hospice segment faced COVID-related challenges, leading to a decline in revenue and increased costs. Consequently, the company has lowered its full-year guidance for 2021.

Despite challenges, management remains confident in long-term growth.

Encompass Health Corp. (NYSE: EHC) filed a lawsuit against former executive April Anthony in Dallas County, Texas, for breaching her employment agreement. The lawsuit alleges violations of non-competition and non-solicitation clauses, as well as misappropriation of trade secrets. The company reportedly discovered that Anthony secretly encouraged employees, including senior executives, to join a competing venture, activities that began before her departure and continued after. Encompass Health operates an extensive network of healthcare services, with 144 hospitals and 249 home health locations across the U.S.

Encompass Health (NYSE: EHC) announces an expansion of its joint venture with Baptist Health South Florida to include Baptist Health's home health agency in Miami. The deal is expected to close in Q4 2021, subject to regulatory approvals. This partnership aims to enhance the quality of home health services in Miami-Dade and Monroe counties, complementing existing rehabilitation services. Encompass Health, a leader in integrated post-acute healthcare, ranks among the top providers of Medicare-certified skilled home health and hospice services.