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Encompass Health Corporation (NYSE: EHC) is a leading provider of post-acute healthcare services in the United States. Specializing in inpatient rehabilitation, the company operates a network of 161 hospitals across 37 states and Puerto Rico. These hospitals offer comprehensive rehabilitative care for patients recovering from major injuries and illnesses, including strokes, brain injuries, spinal cord injuries, and complex orthopedic conditions.
Encompass Health's business model revolves around delivering high-quality, cost-effective care through both facility-based and home-based patient care. The company's integrated approach includes advanced therapies, customized treatment plans, and coordinated care teams to ensure optimal patient outcomes. Their commitment to excellence is reflected in their significant market presence and continual expansion. Recent projects include new inpatient rehabilitation hospitals in Avondale, Arizona, and San Antonio, Texas, aimed at enhancing their service offerings.
Financially, Encompass Health has demonstrated robust performance with consistent revenue growth. For instance, the company reported a 13.4% revenue growth in Q1 2024, driven by strong discharge growth and efficient expense management, leading to an Adjusted EBITDA growth of 19.2%. Their strategic focus on improving labor costs and operational efficiency continues to bolster their financial health.
Encompass Health's dedication to innovation is evident in their use of advanced rehabilitation technologies and their commitment to ongoing research. The company recently announced a call for research grant applications, aimed at investigating the effectiveness of therapies in post-acute care settings. This initiative underscores their commitment to enhancing patient care through evidence-based practices.
Recognized as one of Fortune's World's Most Admired Companies and Modern Healthcare's Best Places to Work in Healthcare, Encompass Health prioritizes a positive working environment for its staff, ensuring they are equipped with the necessary tools and support to deliver exceptional patient care.
For the latest updates on Encompass Health Corporation, including their quarterly earnings reports, new hospital developments, and research initiatives, visit their investor website or follow their official social media channels.
Encompass Health (NYSE: EHC), the largest inpatient rehabilitation hospital operator in the US, reported strong Q2 2024 results. Net operating revenue increased 9.6% to $1,301.2 million, driven by 6.7% discharge growth and 2.0% net patient revenue per discharge growth. Adjusted EBITDA rose 8.9% to $271.8 million. Income from continuing operations per diluted share grew 24.2% to $1.13, while adjusted earnings per share increased 16.8% to $1.11.
The company added 194 beds and made progress on key initiatives. Based on strong performance, Encompass Health increased its full-year 2024 guidance, projecting net operating revenue of $5,275 to $5,350 million, adjusted EBITDA of $1,040 to $1,075 million, and adjusted EPS of $3.97 to $4.22.
Encompass Health (NYSE: EHC) has opened a new 50-bed inpatient rehabilitation hospital in Johnston, Rhode Island. The Encompass Health Rehabilitation Hospital of Johnston aims to help patients recover from conditions such as strokes, brain injuries, spinal cord injuries, amputations, and complex orthopedic conditions. The facility offers:
- Minimum three hours of intensive therapy five days a week
- Frequent physician visits and 24-hour nursing care
- Private patient rooms and advanced rehabilitation technologies
- In-house dialysis suite and pharmacy
This expansion strengthens Encompass Health's position as the largest owner and operator of rehabilitation hospitals in the United States, now serving one in three patients receiving inpatient rehabilitation care nationwide.
Encompass Health Corp. (NYSE:EHC) has announced significant shareholder-friendly moves. The company's board of directors approved a 13% increase in the quarterly dividend, declaring a cash dividend of $0.17 per share on its common stock. This dividend is payable on Oct. 15, 2024, to shareholders of record as of Oct. 1, 2024.
Additionally, Encompass Health has reset its common stock repurchase authorization to $500 million. This decision comes after the company repurchased approximately $17 million of its common stock during the second quarter of 2024. Prior to this reset, the company had about $181 million remaining under its previous authorization as of June 30, 2024.
Encompass Health (NYSE: EHC) has announced the partial redemption of its 5.75% senior notes due 2025. The company will redeem $150 million of the outstanding principal balance, with the redemption date set for August 15, 2024. The redemption price will be 100.0% of par, plus accrued and unpaid interest. Encompass Health plans to use cash on hand to fund this redemption. As a result of this financial move, the company anticipates recording an approximate $0.4 million loss on early extinguishment of debt in the third quarter of 2024.
Encompass Health (NYSE: EHC) has scheduled its Q2 2024 earnings call. The company will release its financial results for the quarter ending June 30, 2024, after market close on August 5, 2024. An investor conference call will follow on August 6, 2024, at 10 a.m. ET. Participants can join the call by dialing 800-579-2543 with conference ID EHCQ224, or 785-424-1699 for international callers. The call will also be webcast live and available for replay on the company's investor website.
Piedmont and Encompass Health (NYSE: EHC) announced an expansion of their joint venture to include Walton Rehabilitation Hospital in Augusta, Georgia. The 70-bed hospital, located at 1355 Independence Drive, was acquired by Encompass Health in 2013. The existing joint venture includes several other hospitals in Georgia and Alabama, with plans to build more in Athens and Loganville, Georgia. This partnership aims to provide coordinated, patient-centered care, leveraging the strengths of both organizations. Patients will receive intensive therapy, frequent physician visits, and 24-hour nursing care, particularly aiding those recovering from severe conditions such as strokes and brain injuries.
Baptist Health and Encompass Health (NYSE: EHC) have opened the Baptist Health Rehabilitation Hospital, a 40-bed inpatient facility in Louisville, Kentucky. This joint venture aims to provide high-quality rehabilitative care for patients recovering from conditions such as strokes, brain injuries, and complex orthopedic issues. The hospital offers intensive therapy sessions, frequent physician visits, and 24-hour nursing care. Amenities include private rooms, a therapy gym with advanced technologies, and an in-house pharmacy. The new facility marks Baptist Health's first new hospital construction in 33 years.
Encompass Health Corp. (NYSE: EHC) will participate in the 2024 Leerink Partners Healthcare Crossroads Conference in Austin, Texas, from May 28-30, 2024. The company's President and CEO, Mark Tarr, along with EVP and CFO Doug Coltharp, will present during a fireside chat on May 30, 2024, from 8-8:30 a.m. CT. The presentation will be webcast live, and details will be available on their investor relations website.
The Rehabilitation Hospital of Atlanta, a 40-bed inpatient facility, has opened in Georgia as a joint venture between Piedmont and Encompass Health (NYSE: EHC). Located at 1968 Peachtree Road NW, this hospital offers essential rehabilitative services for patients recovering from strokes, brain injuries, spinal cord injuries, amputations, and complex orthopedic conditions. Patients benefit from three hours of intensive therapy five days a week, frequent physician visits, and 24-hour nursing care.
Gina Tipton, CEO, emphasized the hospital's role in helping patients regain function and independence, while Patrick M. Battey, CEO of Piedmont Atlanta, highlighted the convenience of having a rehabilitation facility on-site. The hospital features advanced rehabilitation technologies, 40 private patient rooms, an activities of daily living suite, an in-house pharmacy, and a dayroom area. This is Encompass Health's 162nd inpatient rehabilitation hospital nationwide and its seventh in Georgia.
BJC HealthCare and Encompass Health announced the opening of The Rehabilitation Institute of St. Louis – West County, a 40-bed inpatient rehabilitation hospital in Ballwin, Missouri. The facility will cater to patients recovering from strokes, brain and spinal cord injuries, amputations, and complex orthopedic conditions. Patients will receive intensive therapy for a minimum of three hours a day, five days a week, along with frequent physician visits and 24-hour nursing care. This hospital is part of the existing joint venture between Encompass Health and BJC HealthCare, which includes three other hospitals in the region. The new facility features private rooms, a therapy gym with advanced technologies, an activities of daily living suite, therapy courtyard, in-house pharmacy, and dayroom area. The interdisciplinary team aims to help patients regain their strength and independence.
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