Encompass Health and Baptist Health South Florida expand home health joint venture in Miami, Florida

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Feb 01, 2022, 08:00 ET

BIRMINGHAM, Ala. and MIAMI, Feb. 1, 2022 /PRNewswire/ -- Encompass Health Corp. (NYSE: EHC), a national leader in integrated post-acute healthcare services, and Baptist Health South Florida are pleased to announce an expanded joint venture agreement to include the Baptist Health home health agency in Miami, Florida. The transaction closed in December 2021.

"Through the expansion of our partnership with Encompass Health, we are increasing access to high quality home health care and enhancing the care that we provide in the communities we serve," said Bill Ulbricht, chief operating & administrative officer, clinical enterprise, for Baptist Health. "We have a history of success in working together, and we know this expansion of our partnership benefits our patients and communities."

"We look forward to continuing our collaboration with Baptist Health South Florida through this expanded partnership to serve as a compassionate and transformative healing presence within our communities," said Barb Jacobsmeyer, president and chief executive officer of Encompass Health's home health and hospice business. "This joint venture combines the expertise and resources of Encompass Health, one of the nation's largest providers of home health and hospice services, with the trusted healthcare provider Baptist Health South Florida, the largest healthcare provider in the region."

This joint venture expansion will add Encompass Health's home health services to Miami-Dade and Monroe counties, complementing the existing inpatient rehabilitation services in the market. The joint venture partnership includes locations in Boynton Beach, Florida and Miami, Florida. Encompass Health is the fourth largest provider of Medicare-certified skilled home health services in the country based on 2020 Medicare reimbursements.

About Baptist Health
Baptist Health South Florida is the largest healthcare organization in the region, with 11 hospitals, more than 23,000 employees, 4,000 physicians and 100 outpatient centers, urgent care facilities and physician practices spanning across Miami-Dade, Monroe, Broward and Palm Beach counties. Baptist Health has internationally renowned centers of excellence in cancer, cardiovascular care, orthopedics and sports medicine, and neurosciences. In addition, it includes Baptist Health Medical Group; Baptist Health Quality Network; and Baptist Health Care On Demand, a virtual health platform. A not-for-profit organization supported by philanthropy and committed to its faith-based charitable mission of medical excellence, Baptist Health has been recognized by Fortune as one of the 100 Best Companies to Work For in America and by Ethisphere as one of the World's Most Ethical Companies. For more information, visit BaptistHealth.net/Newsroom and connect with us on Facebook, Instagram, Twitter and LinkedIn.

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 145 hospitals, 251 home health locations, and 96 hospice locations in 42 states and Puerto Rico, the Company provides high–quality, cost-effective integrated healthcare. 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, Instagram and Facebook.

FORWARD-LOOKING STATEMENT
Statements contained in this press release which are not historical facts, such as those relating to the effects of the completion of this joint venture 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, any adverse outcome of various lawsuits, claims, and legal or regulatory proceedings that may be brought by or against Encompass Health or its partner; the continued spread of COVID-19, including the speed, depth, geographic reach and duration of the spread; the actions to be taken by Encompass Health or its partner in response to the COVID-19 pandemic; 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 or its partner'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 Dec. 31, 2020 and Forms 10-Q for the quarters ended Mar. 31, 2021 and June 30, 2021.

Encompass Health Media Contact:
Casey Winger | 205 970-5912
[email protected]

Investor Relations Contact:
Mark Miller | 205 970-5860
[email protected]

Baptist Health Media Contact:
Dori Alvarez I 786-208-9986
[email protected]

SOURCE Encompass Health Corp.