Encompass Health and Shannon Health to form joint venture for new inpatient rehabilitation hospital in San Angelo, Texas
BIRMINGHAM, Ala. and SAN ANGELO, Texas, Jan. 8, 2020 /PRNewswire/ -- Birmingham, Ala.-based Encompass Health Corp. (NYSE: EHC) and San Angelo, Texas-based Shannon Health today announced plans to form a joint venture for a new, 40-bed, freestanding inpatient rehabilitation hospital in San Angelo, Texas.
The hospital is being constructed by the Shannon West Texas Memorial Hospital Trust, the foundation arm of Shannon Health, and will be leased to the joint venture between Encompass Health and Shannon Health. This hospital will replace Shannon Medical Center's 14-bed rehabilitation unit, which has been providing rehabilitative care to patients since 1988.
"We are excited to be working with the team at Shannon Health to meet the growing need for rehabilitation services in the San Angelo community," said Frank Brown, president of Encompass Health's southwest region. "Under our joint venture, we'll continue providing the excellent rehabilitative care established by Shannon in a new space specifically designed for rehabilitation patients."
Included in the hospital will be a spacious therapy gym, advanced rehabilitation technologies, an activities of daily living suite, cafeteria and dining room, pharmacy and courtyard.
It will be located on approximately 7.7 acres along the north side of the Appaloosa Trail west of the intersection with Farm-to-Market Road 2288 in San Angelo. The joint venture plans to start providing patient care in the new hospital beginning spring 2021.
"We have great pride at Shannon in providing high quality inpatient rehabilitation services for our patients and their families for more than 30 years," said Shane Plymell, CEO and President of Shannon. "As our region continues to see tremendous growth, the healthcare needs of our population will continue to evolve. Encompass Health is a respected leader in this industry, and we are excited to partner with their expertise and expand our capability to serve the needs of more patients here in the Concho Valley. Our continuing mission is to provide patients an exceptional experience along with the best possible care."
Complementing local acute care services, the hospital will care for patients recovering from a variety of debilitating illnesses and injuries including strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and complex orthopedic conditions. It offers physical, occupational and speech therapies as well as 24-hour nursing care that aim to restore functional ability and quality of life.
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 133 hospitals, 245 home health locations, and 82 hospice locations in 37 states and Puerto Rico, the Company is committed to delivering high-quality, cost-effective, integrated care across the healthcare continuum. 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.
About Shannon Health
Shannon Medical Center is proud to be the largest, locally-based health care provider for the Concho Valley and surrounding region in West Texas. For more than 87 years, the Shannon mission has focused on providing exceptional healthcare for its family, friends and neighbors. Together with Shannon Clinic, Shannon provides access to more than 275 providers in 40 medical specialties across 22 locations. Shannon's services include nationally-recognized cardiac and stroke programs with the AirMed1 air ambulance and designated Level III Trauma Facility which has been named top Trauma Facility in the state. It also features a dedicated Women's & Children's Hospital which celebrates the birth of more than 1,200 new babies each year and is home to the Children's Miracle Network for the area.
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 completion of this hospital 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 the Company; 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'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 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 December 31, 2018 and Form 10-Q for the quarters ended Sept. 30, 2019, June 30, 2019 and March 31, 2019.
Encompass Health contacts:
Media:
Hillary Carnel | 205 970-5912
[email protected]
Investor Relations:
Crissy Carlisle | 205 970-5860
[email protected]
Shannon Health contact:
Media:
Lyndy Stone | 325 657-5768
[email protected]
SOURCE Encompass Health Corp.
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