Welcome to our dedicated page for Encompass Health news (Ticker: EHC), a resource for investors and traders seeking the latest updates and insights on Encompass Health stock.
Encompass Health Corp (EHC) operates one of the nation's largest networks of inpatient rehabilitation hospitals, offering post-acute care through advanced therapies and home health services. This page aggregates official press releases and verified news about the company's financial performance, operational developments, and healthcare innovations.
Investors and stakeholders will find timely updates on earnings reports, strategic partnerships, and regulatory compliance matters. Content spans facility expansions, technology implementations like DesignManufactureConstruct™, and service enhancements across rehabilitation and hospice care.
All materials are curated to provide a comprehensive view of EHC's market position without speculative commentary. Bookmark this page for direct access to primary sources about the company's progress in delivering coordinated, patient-centered care nationwide.
Encompass Health and Enhabit have won a significant lawsuit in the Delaware Court of Chancery against former senior officers April Anthony, Luke James, and Chris Walker for breaches of fiduciary duty. The Court also ruled against private equity firms Vistria Group and Nautic Partners for aiding these breaches.
The Court found that the defendants misappropriated acquisition opportunities, used confidential information, and recruited key employees while still employed at Encompass Health. As compensation, the Court awarded 43% of VitalCaring Group's profits to Encompass Health and Enhabit, plus $1.62 million in mitigation damages and attorneys' fees.
The defendants were found to have deliberately concealed their actions through falsifying records, deleting evidence, and manipulating communications. The Court's decision sends a clear message about the consequences of breaching fiduciary duties and self-dealing by corporate officers.
Encompass Health and Enhabit have won a significant legal victory in the Delaware Court of Chancery against former senior officers April Anthony, Luke James, and Chris Walker for breaches of fiduciary duty. The court found that while employed at Encompass Health, these officers misappropriated acquisition opportunities, used confidential information, and recruited employees for a competing venture.
The Court awarded damages against private equity firms Vistria Group and Nautic Partners for aiding these breaches. The remedy includes a constructive trust entitling Encompass Health and Enhabit to 43% of VitalCaring Group's profits and future exit proceeds, approximately $1.62 million in mitigation damages, and attorneys' fees due to defendants' bad faith conduct including evidence tampering.
Encompass Health announced the opening of a new 61-bed inpatient rehabilitation hospital in Houston, Texas. This facility marks a significant milestone as the company's first hospital fully constructed using prefabricated modules. The innovative construction method, developed in collaboration with BLOX, utilized 80 uber-modules manufactured off-site and assembled on location. This approach resulted in enhanced quality control, reduced waste, and faster construction timelines. The hospital, located at 3010 Yellowstone Blvd., represents an evolution of a partnership that began in the early 2000s, progressing from bathroom pods to complete hospital prefabrication.
Encompass Health (NYSE: EHC) has announced plans to construct a 50-bed inpatient rehabilitation hospital in Wesley Chapel, Florida's Wiregrass Ranch community. The facility will provide specialized care for patients recovering from various conditions including strokes, neurological disorders, brain injuries, spinal cord injuries, amputations, and complex orthopedic conditions. The hospital will feature private rooms, advanced rehabilitation technologies, therapy facilities, and comprehensive medical services including 24-hour nursing care, physical, occupational, and speech therapies. Expected to open in 2027, the facility will join Encompass Health's national network of rehabilitation hospitals.
Encompass Health reported strong Q3 2024 results with net operating revenue increasing 11.9% to $1,351.0 million. The growth was driven by an 8.8% increase in discharges, including 6.8% same-store growth, and a 2.5% rise in net patient revenue per discharge. Income per diluted share grew 25.9% to $1.07, while adjusted EBITDA increased 13.4% to $269.3 million. The company raised its full-year 2024 guidance, with net operating revenue now expected between $5,325 to $5,375 million and adjusted earnings per share projected at $4.19 to $4.33.
Encompass Health (NYSE: EHC) has announced the partial redemption of its 5.75% senior notes due 2025. The company will redeem $100 million of the outstanding principal balance, with the redemption date set for November 21, 2024. The redemption price will be 100.0% of par, plus accrued and unpaid interest as per the terms of the 2025 Notes.
Encompass Health plans to use cash on hand to fund this redemption. As a result of this action, the company anticipates recording an approximate $0.2 million loss on early extinguishment of debt in the fourth quarter of 2024.
Encompass Health (NYSE: EHC) has announced a quarterly cash dividend on its common stock. The board of directors has declared a dividend of $0.17 per share, which will be payable on January 15, 2025. Shareholders who are holders of record on January 2, 2025, will be eligible to receive this dividend.
Encompass Health Corp. (NYSE: EHC) has announced the date for its 2024 third quarter earnings call. The company will report its results for the quarter ended Sept. 30, 2024, after market close on Monday, Oct. 28, 2024. An investor conference call is scheduled for Tuesday, Oct. 29, 2024, at 10 a.m. ET.
Investors can access the call by dialing 800-343-4849 (US) or 203-518-9848 (international) and using the conference ID EHCQ324. A live webcast and replay of the call will be available on the company's investor website at https://investor.encompasshealth.com.
Encompass Health, the largest owner and operator of inpatient rehabilitation hospitals in the U.S., has opened its 165th hospital nationwide and ninth in South Carolina. The new 39-bed Encompass Health Rehabilitation Hospital of Fort Mill is located at 2260 Vista Road and will serve the Fort Mill and greater Charlotte area.
The hospital specializes in rehabilitative services for patients recovering from strokes, brain injuries, spinal cord injuries, amputations, and complex orthopedic conditions. Patients receive intensive therapy for a minimum of three hours, five days a week, along with frequent physician visits and 24-hour nursing care.
Amenities include private patient rooms, advanced rehabilitation technologies, an activities of daily living suite, in-house dialysis suite, therapy courtyard, and in-house pharmacy. The hospital aims to address the rapidly growing need for inpatient rehabilitative care in the region.
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.
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