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July 01, 2022 01:05 PM

Encompass Health spins off Enhabit Home Health and Hospice

Ginger Christ
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    Encompass Health

    Encompass Health has completed a spin-off of Enhabit, its home health and hospice business, the companies announced Friday.

    Encompass Health's board of directors characterized the separation as a way for each entity to be more flexible and strategic in operations and acquisitions. The company expects Enhabit to earn more than $1 billion this year, according to guidance issued last month.

    "Today marks a new and exciting chapter for our company, and we look forward to embarking on this next phase of growth with our team," Enhabit President and CEO Barb Jacobsmeyer said in a news release. "As an independent company, we will have enhanced strategic and operational flexibility to put the interests of our patients, people and investors first."

    Enhabit is now an independent public company traded on the New York Stock Exchange. Stockholders were given one share of Enhabit stock for every two shares of Encompass Health stock they owned as of June 24.

    The home health industry has been exploding in growth as the country's population ages and providers look to meet their needs. By 2040, 81 million U.S. residents will be 65 or older, up from 54 million in 2019, according to Health and Human Services Department data.

    Medium- and large-sized home health providers such as Enhabit and Amedisys are striving to become "one-stop shops." said Bill Dombi, president of the National Association for Home Care and Hospice. "What we're seeing is a horizontal integration of home health," he said.

    The home health industry has been rebalancing in recent years, Dombi said. While demand for services is surging, the number of players in the market has decreased. There are 11,600 home health companies in operation, which is 1,000 fewer than in 2015, according to data from the Centers for Medicare and Medicaid Services.

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    • News
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      • Digital Health
      • Transformation
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      • ESG
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      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Blogs
      • AI
      • Deals
      • Layoff Tracker
      • HIMSS 2023
    • Opinion
      • Breaking Bias
      • Commentaries
      • Letters
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - AI and Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Sponsored Video Series - One on One
      • Sponsored Video Series - Checking In with Dan Peres
    • Data & Insights
      • Data & Insights Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
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      • Surveys
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