BIRMINGHAM, Ala., Oct. 21, 2021 /PRNewswire/ -- Encompass
Health Corp. (NYSE: EHC), a national leader in integrated
post-acute healthcare services, and Baptist Health South Florida
are pleased to announce the expansion of a joint venture agreement
to include the Baptist Health home health agency in Miami, Florida. The transaction is expected to
close in the fourth quarter of 2021 and is subject to certain
customary closing conditions and regulatory approvals.
"Encompass Health has been a valued home health joint venture
partner in Boynton Beach, Florida,
with a proven ability to provide high-quality, cost-effective care
while avoiding unnecessary hospital readmissions," said Bill
Ulbricht, chief operating & administrative officer, clinical
enterprise, for Baptist Health. "Their home health operational
expertise will enhance the high quality of care provided in the
communities we serve in South
Florida."
"We are excited about expanding our partnership with Baptist
Health South Florida," said Barb
Jacobsmeyer, chief executive officer of Encompass Health's
home health and hospice business. "As a national provider of home
health and hospice services, we look forward to continuing to help
Baptist Health South Florida further enhance its mission of
improving the health and well-being of individuals and to promote
the sanctity and preservation of life, in the communities they
serve."
The joint venture expansion will add Encompass Health's home
health services to Miami-Dade and
Monroe counties, complementing the
existing inpatient rehabilitation services in the market. Encompass
Health is currently the fourth largest provider of
Medicare-certified skilled home health services and a top 10
hospice provider in the country based on Medicare
reimbursements.
About Baptist Health
Baptist Health South Florida is the largest healthcare organization
in the region, with 11 hospitals, more than 23,000 employees, 4,000
physicians and 100 outpatient centers, urgent care facilities and
physician practices spanning across Miami-Dade, Monroe, Broward and Palm
Beach counties. Baptist Health has internationally
renowned centers of excellence in cancer, cardiovascular care,
orthopedics and sports medicine, and neurosciences. In
addition, it includes Baptist Health Medical Group; Baptist Health
Quality Network; and Baptist Health Care On Demand, a virtual
health platform. A not-for-profit organization supported by
philanthropy and committed to its faith-based charitable mission of
medical excellence, Baptist Health has been recognized
by Fortune as one of the 100 Best Companies to Work For in America
and by Ethisphere as one of the World's Most Ethical Companies. For
more
information, visit BaptistHealth.net/Newsroom and
connect with us
on Facebook, Instagram, Twitter and LinkedIn.
About Encompass Health
As a national leader in
integrated healthcare services, Encompass Health (NYSE: EHC) offers
both facility–based and home–based patient care through its network
of inpatient rehabilitation hospitals, home health agencies and
hospice agencies. With a national footprint that includes 144
hospitals, 249 home health locations, and 95 hospice locations in
42 states and Puerto Rico, the Company provides high–quality,
cost-effective integrated healthcare. Encompass Health is ranked as
one of Fortune's 100 Best Companies to Work For. For more
information, visit encompasshealth.com, or follow us on our
newsroom, Twitter and Facebook.
FORWARD-LOOKING STATEMENT
Statements
contained in this press release which are not historical facts,
such as those relating to the likelihood, timing and effects of the
completion of this joint venture project, are forward-looking
statements. In addition, Encompass Health may from time to time
make forward-looking public statements concerning the matters
described herein. All such estimates, projections, and
forward-looking information speak only as of the date hereof, and
Encompass Health undertakes no duty to publicly update or revise
such forward-looking information, whether as a result of new
information, future events, or otherwise. Such forward-looking
statements are necessarily estimates based upon current information
and involve a number of risks and uncertainties. Encompass Health's
actual results or events may differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors. While it is impossible to identify all such
factors, factors which could cause actual results or events to
differ materially from those anticipated include, but are not
limited to, the regulatory review and approval process, any adverse
outcome of various lawsuits, claims, and legal or regulatory
proceedings that may be brought by or against Encompass Health or
its partner; the possibility this project will experience
unexpected delays; the ability to successfully complete and
integrate this project consistent with Encompass Health's growth
strategy, including realization of anticipated revenues, cost
savings, and productivity improvements arising from the related
operations and avoidance of unforeseen exposure to liabilities; the
continued spread of COVID-19, including the speed, depth,
geographic reach and duration of the spread; the actions to be
taken by Encompass Health or its partner in response to the
COVID-19 pandemic; changes in the regulation of the healthcare
industry at either or both of the federal and state levels;
competitive pressures in the healthcare industry and Encompass
Health's response thereto; the hospital's ability to maintain
proper local, state and federal licensing; potential disruptions,
breaches, or other incidents affecting the proper operation,
availability, or security of Encompass Health's or its partner's
information systems; Encompass Health's ability to attract and
retain nurses, therapists, and other healthcare professionals in a
highly competitive environment with often severe staffing shortages
and the impact on Encompass Health's labor expenses from potential
union activity and staffing shortages; changes, delays in
(including in connection with resolution of Medicare payment
reviews or appeals), or suspension of reimbursement for Encompass
Health's services by governmental or private payors; general
conditions in the economy and capital markets; and other factors
which may be identified from time to time in Encompass Health's SEC
filings and other public announcements, including Encompass
Health's Form 10-K for the year ended Dec.
31, 2020 and Forms 10-Q for the quarters ended
Mar. 31, 2021 and June 30, 2021.
Encompass Health Contacts:
Casey Winger | 205 970-5912
casey.winger@encompasshealth.com
Investor Relations Contact:
Mark Miller | 205 970-5860
mark.miller@encompasshealth.com
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SOURCE Encompass Health Corp.