Encompass Health and Premier Health announce plans to build an inpatient rehabilitation hospital
Jointly owned 60-bed hospital is expected to begin providing rehabilitative services in early 2020
BIRMINGHAM, Ala. and DAYTON, Ohio, March 1, 2018 /PRNewswire/ -- Encompass Health Corporation (NYSE: EHC), formerly known as HealthSouth Corporation, and Premier Health today announced plans to build a 60-bed inpatient rehabilitation hospital in Dayton, Ohio. The Rehabilitation Institute of Ohio, a joint venture with Encompass Health, is expected to open in early 2020 on the campus of Miami Valley Hospital.
When the new hospital is complete and all regulatory approvals are obtained, Encompass Health's HealthSouth Rehabilitation Hospital of Dayton will relocate to the new facility, and Premier Health will contribute its inpatient rehabilitation business located in its Miami Valley Hospital to the joint venture. Encompass Health will manage the joint venture hospital's operations.
"We are excited for the opportunity to work collaboratively with a well-respected and top-notch healthcare provider like Premier Health as we share the same vision of providing high-quality care that is cost effective and delivers superior results," said Troy DeDecker, president of Encompass Health's central region. "Together, we can help the residents of southwest Ohio struggling with a variety of debilitating illnesses and injuries, so they can return to independent lives and the people and activities they love most."
"Miami Valley Hospital has a great legacy of providing quality inpatient rehabilitation services for patients and families in southwest Ohio," said Mike Maiberger, executive vice president and chief operating officer of Premier Health, and president of Miami Valley Hospital. "As we invest for the future, we expect this new hospital will create considerable value for our patients by delivering quality care efficiently. We're pleased to be partnering with Encompass Health, which already has a presence in Dayton and brings a strong reputation for rehabilitative care to the project."
The Rehabilitation Institute of Ohio is expected to represent a $27 million investment in the community. Through comprehensive rehabilitation services, the hospital will serve patients recovering from conditions including stroke and other neurological disorders, spinal cord injuries, brain injuries, complex orthopedic conditions and amputation.
The formation of the joint venture is subject to negotiation of definitive agreements and customary closing conditions, and the joint venture's operation in the new location is subject to regulatory approvals.
About Premier Health
Based in Dayton, Ohio, Premier Health (www.premierhealth.com) has a mission to improve the health of the communities it serves. The health system operates four hospitals: Miami Valley Hospital with an additional site at Miami Valley Hospital South; Good Samaritan Hospital; Atrium Medical Center; and Upper Valley Medical Center. In addition, the health system offers a large primary and specialty care network, along with home health services. The health system is the second largest employer in the region and is the largest health-care system in Southwest Ohio.
About Encompass Health
As a national leader in post-acute care, Encompass Health (NYSE: EHC) offers 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 spans 127 hospitals and 237 home health & hospice locations in 36 states and Puerto Rico, the Company is committed to delivering high-quality, cost-effective care across the post-acute continuum. Driven by a set of shared values, Encompass Health is the result of the union between HealthSouth Corporation and Encompass Home Health & Hospice, and is ranked as one of Fortune's 100 Best Companies to Work For, as well as Modern Healthcare's Best Places to Work.
Forward-Looking Statements
Statements contained in this press release which are not historical facts, such as those relating to the likelihood, timing and effects of the finalization 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 this joint venture; 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 and avoidance of unforeseen exposure to liabilities; 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 or this joint venture's response thereto; this joint venture's ability to maintain proper local, state and federal licensing; potential disruptions, breaches, or other incidents affecting the proper operation, availability, or security of the hospitals' or either partner's information systems, including the unauthorized access to or theft of patient or other sensitive information; the 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 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 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, 2017.
Encompass Health Contacts:
Media: Hillary Carnel, 205 767-9654, [email protected]
Investor relations: Crissy Carlisle, 205 970-5860, [email protected]
Premier Health Media Contact:
Sharon D. Howard, 937 208-2725, [email protected]
SOURCE Encompass Health Corporation
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