Encompass Health plans to spin off its home health and hospice business as a separate publicly traded company known as Enhabit Home Health and Hospice, the company announced Wednesday.
Birmingham, Alabama-based Encompass Health expects to complete the spin-off in the first half of 2022 and will begin rebranding the home health and hospice segment in April, the company said in a news release.
Encompass Health's board of directors said separating the inpatient rehabilitation the home health and hospice businesses will allow both to be more flexible, focused and better able to respond to the market.
Encompass Health first announced its plans to separate the home health and hospice segment through an initial public offering, spin-off or merger in December 2020.
The company operates 145 hospitals, 251 home health sites and 96 hospice facilities throughout the U.S. and Puerto Rico.