Encompass Health Corporation reports developments tied to its role as an operator of inpatient rehabilitation hospitals in the United States. Company news commonly covers hospital openings and capacity additions, rehabilitative care for patients recovering from strokes, neurological disorders, brain and spinal cord injuries, amputations and complex orthopedic conditions, and updates from its national hospital network.
Recurring announcements also include quarterly operating results, same-store discharge trends, net patient revenue per discharge, cash dividends on common stock, investor conference participation and annual stockholder meeting matters. These updates connect Encompass Health's post-acute care model with its hospital expansion activity, patient-volume measures, reimbursement-sensitive revenue trends and public-company governance calendar.
Encompass Health Corporation (EHC) declared a distribution of all outstanding shares of its subsidiary, Enhabit, Inc., to its stockholders. The record date for this spin-off is June 24, 2022, with the distribution expected to complete on July 1, 2022. Stockholders will receive one share of Enhabit common stock for every two shares of Encompass Health held. The transaction is intended to be tax-free for U.S. federal income tax purposes, except for cash received for fractional shares. Encompass Health will continue to trade under the ticker EHC, while Enhabit will trade as EHAB.
Encompass Health Corporation (NYSE: EHC) announced separate full-year 2022 guidance for its inpatient rehabilitation business and its home health and hospice business (Enhabit). The company plans to spin off Enhabit on July 1, 2022, subject to regulatory approvals. Updated guidance includes consolidated net operating revenues of $5,330 to $5,420 million, adjusted EBITDA of $1,005 to $1,045 million, and adjusted earnings per share from continuing operations of $3.76 to $4.05. Key factors include Medicare pricing adjustments and anticipated operational improvements in the second half of 2022.
Encompass Health Corp. (NYSE: EHC) has opened the Encompass Health Rehabilitation Hospital of Cape Coral, a state-of-the-art 40-bed inpatient facility in Florida. This hospital features all private patient rooms, advanced rehabilitation technologies, and specialized nursing, therapy, and medical services aimed at helping patients recover from serious conditions like strokes and spinal cord injuries. The Cape Coral facility is the 149th hospital for Encompass Health and the 17th in Florida, with plans for two more hospitals to open in the state later this year.
Encompass Health Corp. (NYSE: EHC) has announced the construction of a new 60-bed inpatient rehabilitation hospital in Houston, Texas. Located at 3000 Yellowstone Boulevard, this facility will support patients recovering from severe illnesses and injuries with 24-hour nursing care and specialized therapies, including physical and occupational therapy. The hospital is set to enhance Encompass Health's existing network of rehabilitation services in Texas and will feature modern amenities like private patient rooms and advanced rehabilitation technologies.
Encompass Health Corp. (NYSE: EHC) will present at the UBS Global Healthcare Conference from May 23-25, 2022, in New York City. The company's President & CEO, Mark Tarr, and CFO, Doug Coltharp, will engage in a fireside chat on May 24, from 9:15-9:55 a.m. ET. Interested parties can access the live webcast here. Encompass Health is a leader in integrated healthcare services, operating nationwide with 148 hospitals and 252 home health locations, delivering high-quality patient care.
Encompass Health (NYSE: EHC) has opened the Encompass Health Rehabilitation Hospital of Lakeland, a 50-bed facility aimed at aiding recovery from serious illnesses and injuries. Located in Lakeland, Florida, it offers specialized care including physical and occupational therapies, 24-hour nursing, and access to advanced technologies. This new hospital is the 148th in Encompass Health's network and enhances care options in the region. The facility is designed to provide patients with a minimum of three hours of therapy each day, fostering independence and functionality.
Encompass Health Corporation (NYSE: EHC) declared a quarterly cash dividend of $0.28 per share, payable on July 20, 2022. The record date for the dividend is July 13, 2022. This adjustment in payment dates accommodates the upcoming spin-off of its Enhabit Home Health and Hospice business, set for July 1, 2022. Encompass Health operates a vast network of healthcare facilities, providing integrated services across the United States, and is recognized for its workplace culture.
Encompass Health (NYSE: EHC) has opened its new Rehabilitation Hospital of Tustin, comprising 65 private patient rooms. Located at 15120 Kensington Park Drive, this facility replaces the previous hospital at 14851 Yorba Street. It provides specialized care for patients recovering from serious conditions including strokes and spinal cord injuries. The hospital offers advanced therapies and has received certification for its stroke rehabilitation program from The Joint Commission. CEO Paula Redmond emphasized the hospital's commitment to enhancing patient recovery and independence.
Encompass Health Corporation (EHC) reported Q1 2022 results, showing net operating revenues of $1,333.6 million, up 8.4% year-over-year. However, income from continuing operations per diluted share fell 18.7% to $0.87. The inpatient rehabilitation segment grew revenues by 10.4%, with same-store discharge growth at 3.8%. Cash flow from operating activities increased by 38.1%. Despite higher costs impacting adjusted EBITDA and staffing challenges, the company remains optimistic about its long-term prospects and has reaffirmed its 2022 guidance.
Encompass Health Corp. (NYSE: EHC) will participate in the BofA Securities 2022 Healthcare Conference in Las Vegas from May 10-12, with a virtual option on May 13. The company’s President and CEO, Mark Tarr, is scheduled to present on May 10 at 3:20 p.m. PT during a fireside chat. The presentation will be streamed live on the company's investor relations website. Encompass Health is recognized as a national leader in integrated healthcare, operating 147 hospitals and providing diverse patient care services across the U.S. and Puerto Rico.