Encompass Health to Acquire Assets of Alacare Home Health/Hospice.
M2 EQUITYBITES-April 3, 2019-Encompass Health to Acquire Assets of Alacare Home Health/Hospice
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3 April 2019 - Dallas, US-based healthcare services provider Encompass Health Corp. (NYSE: EHC) has agreed to purchase substantially all of the assets of Alabama, US-based Alacare Home Health and Hospice, the company said.
Terms of the transaction were not disclosed. The transaction is expected to close in 2Q19. Encompass Health will fund the purchase with cash on hand and borrowings under its revolving credit facility.
The Alacare acquisition will expand Encompass Health's home health and hospice services to new markets and complement existing inpatient rehabilitation services in Alabama.
Post-closing, it will be among the top 10 largest hospice providers in the country based on Medicare reimbursements.
Alacare Home Health and Hospice operates 23 home health locations and 23 hospice locations in Alabama and generated revenues of approximately USD 117m in 2018.
Encompass Health offers integrated healthcare services through 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 130 hospitals, 220 home health locations, and 58 hospice locations in 36 states and Puerto Rico, the company is committed to delivering high-quality, cost-effective, integrated care across the healthcare continuum.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Apr 3, 2019|
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