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, 2020and Forms 10-Q for the quarters ended Mar. 31, 2021 and June 30, 2021.