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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 Corp. (EHC) and Lee Healthcare Holdings announced a collaboration to jointly own and operate two new inpatient rehabilitation hospitals in Southwest Florida. One hospital is a 40-bed facility under construction in Cape Coral, opening in May 2022, while the second will be a 60-bed hospital in Fort Myers, expected to open in 2024. This partnership aims to enhance the quality of care for patients recovering from serious ailments. Encompass Health's CEO expressed enthusiasm for the collaboration with a respected local healthcare leader.
Encompass Health Corporation (NYSE: EHC) has declared a quarterly cash dividend of $0.28 per share on its common stock. This dividend is scheduled to be paid on April 18, 2022, to shareholders on record as of April 1, 2022. Encompass Health is a leader in integrated healthcare services, operating 146 hospitals and various home health and hospice locations across the U.S. The company is recognized for its quality of care and work environment, being listed among Fortune's 100 Best Companies to Work For.
Encompass Health Corp. (NYSE: EHC) will participate in the Barclays Global Healthcare Conference from March 15-17, 2022, in Miami, Florida. CFO Doug Coltharp is scheduled to present on March 16, 2022, from 8:30 to 8:55 a.m. CT. The presentation will be available via live webcast at investor.encompasshealth.com. Encompass Health is a leader in integrated healthcare services, operating 146 hospitals and numerous home health and hospice locations across the U.S. and Puerto Rico, known for its high-quality patient care.
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BJC HealthCare and Encompass Health (NYSE: EHC) have opened The Rehabilitation Institute of Southern Illinois, a 40-bed inpatient rehabilitation hospital located in Shiloh, Illinois. This facility features private patient rooms and advanced rehabilitation technologies, serving patients recovering from conditions like strokes and spinal cord injuries. Encompass Health's new hospital is its 146th and strengthens its presence in Illinois, where two more hospitals are planned for 2022. The partnership is lauded for enhancing local healthcare options for residents.
Encompass Health Corporation (NYSE: EHC) announced the redemption of its remaining $100 million of 5.125% senior notes due 2023, effective March 15, 2022. The company plans to fund this redemption using cash reserves and its revolving credit facility. This transaction will result in an estimated $0.3 million loss on early extinguishment of debt in Q1 2022. Encompass Health operates 145 hospitals and various health service locations across the U.S., recognized for its integrated healthcare approach.
Encompass Health Corp. (NYSE: EHC) will participate in the SVB Leerink 11th Annual Virtual Global Healthcare Conference from February 14-18, 2022. The presentation will be made by President and CEO Mark Tarr on February 16, 2022, at 11:20 a.m. ET. Interested parties can access the live webcast through their investor relations website. Encompass Health is a leader in integrated healthcare services, operating 145 hospitals and 251 home health locations across the U.S. and Puerto Rico.
Encompass Health Corporation (EHC) reported strong financial results for Q4 and the full year ended December 31, 2021, highlighting an 8.6% increase in net operating revenues to $1.319 billion, and a 5.8% rise in income from continuing operations per diluted share to $0.91. Adjusted EBITDA rose by 5.3% to $252.7 million. Despite challenges, revenue growth was attributed to high discharge rates and favorable pricing in inpatient rehabilitation. The company announced plans to spin off its home health and hospice business in 2022, expected to be tax-free for shareholders.
Encompass Health Corp. (NYSE: EHC) has expanded its joint venture with Baptist Health South Florida to include the Baptist Health home health agency in Miami. The transaction closed in December 2021, aiming to enhance access to quality home health care in Miami-Dade and Monroe counties. This partnership leverages Encompass Health's position as a leading home health provider and Baptist Health's extensive healthcare network. Encompass Health ranks as the fourth largest provider of Medicare-certified skilled home health services in the U.S. based on 2020 Medicare reimbursements.
Encompass Health Corporation (NYSE: EHC) announced on January 25, 2022, that it secured required consents from holders of its 4.500% Senior Notes due 2028, 4.750% Senior Notes due 2030, and 4.625% Senior Notes due 2031 for proposed amendments. The solicitation expired on January 24, 2022. A supplemental indenture was executed at the Consent Effective Time, becoming binding on all Notes holders. However, the Proposed Amendments will only take effect upon the Company's payment of a second consent payment. Citigroup and Goldman Sachs acted as solicitation agents for the consent process.