Yahoo Finance Encompass Health (EHC) Set to Widen Presence in South Carolina
Encompass Health Corporation EHC recently unveiled plans to construct an inpatient rehabilitation hospital close to Columbia, SC. The hospital will initially house 27 beds but can be expanded up to 50 beds.
Shares of Encompass Health gained 1.4% as of Nov 10.
The planned inpatient rehabilitation hospital of Encompass Health, once constructed, will facilitate accelerated recovery of patients grappling with debilitating illnesses and injuries. While construction is slated to commence in third-quarter 2022, the hospital is likely to start treating patients in fourth-quarter 2023. Besides, the hospital will offer enhanced rehabilitation technologies and employ well-versed medical teams.
Thus, the leading healthcare provider of the United States will be able to offer affordable and enhanced rehabilitative care, and cater to the complex health issues of South Carolina residents more effectively.
The latest move highlights Encompass Health’s sincere efforts to expand its presence throughout South Carolina. Presently, EHC boasts of a well-established presence across the state, with eight inpatient rehabilitation hospitals, three home health locations and one hospice location.
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Encompass Health has been focused on expansion plans to add inpatient rehabilitation hospitals to its existing network and bolster nationwide presence. The healthcare provider’s portfolio has been continually growing, with 145 hospitals, 249 home-health hubs and 95 hospice centers across 42 states and Puerto Rico. Encompass Health also sincerely pursues a merger and acquisition strategy for catering to the growing demand for facility-based and home-based post-acute care services.
Besides, Encompass Health makes constant efforts to foray into the underserved areas grappling with inadequate access to care. Rehabilitation services seem to be of immense importance as individuals, who suffer from an injury, illness, or surgery, are often in need of continuous nursing care for addressing their rehabilitation needs. Apart from getting proper treatment and medications, a well-devised rehabilitative care helps patients to return to their normal daily activities.
Apart from Encompass Health, healthcare providers like Tenet Healthcare Corporation THC, HCA Healthcare, Inc. HCA and Acadia Healthcare Company, Inc. ACHC offer high-quality rehabilitation services and can capitalize on robust demand for these services.
Tenet Healthcare operates a network of hospitals and related healthcare facilities for offering high-quality rehabilitation services and other healthcare related services. THC continuously pursues numerous acquisitions, partnerships and strategic alliances for enhancing scale of business, operating capacity and expanding geographical presence. HCA Healthcare operates as one of the leading U.S. healthcare services providers, with a portfolio comprising 185 hospitals, five psychiatric hospitals and two rehabilitation hospitals at 2020-end. Acadia Healthcare offers a full range of healthcare services including inpatient rehabilitation, partial hospitalization and outpatient treatment programs in a bid to treat addictive and mental disorders.
Initiatives similar to the latest one are expected to boost performance of the Inpatient Rehabilitation segment of Encompass Health, which generally accounts for a major portion of the Encompass Health’s top-line growth. The trend continued in the first nine months of 2021, wherein it contributed 78% to net operating revenues, driven by solid volume growth and favourable pricing.
Shares of Encompass Health have lost 6.3% in a year compared with the industry’s decline of 35.5%.
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EHC currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Tenet Healthcare, HCA Healthcare and Acadia Healthcare have gained 166.9%, 69.7% and 60.5%, respectively, in a year.
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