what is encompass health?
Encompass Health Corporation (formerly HealthSouth Corporation), based in Birmingham, Alabama, is one of the United States’ largest providers of post-acute healthcare services,
offering both facility-based and home-based post-acute services in 36 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies, and hospice agencies.
Effective January 2, 2018, the organization changed its name to Encompass Health Corporation and its by stock market (NYSE) ticker symbol from HLS to EHC.
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In 2003, the U.S. Securities and Exchange Commission took action against the company’s CEO, Richard M. Scrushy, who was accused of directing company employees to falsely report company earnings to satisfy stockholder expectations.
The company currently operates three divisions: inpatient rehabilitation, home health, and hospice. the corporate formerly operated an outpatient rehabilitation, surgery center,
and diagnostics division. the corporate also previously owned and operated several acute care hospitals that specialized in orthopedics, but sold all of these hospitals by 2006.
the previous outpatient division also operated an occupational medicine division until 2001, when it had been sold. HealthSouth also sold its Long-term acute care facilities in May 2011. The long-term hospitals contributed around $200 million in revenue.
HealthSouth Corporation logo used from 1996 until 2005 when the corporate dropped the H logo in favor of the more widely used HEALTHSOUTH wordmark. before 1995 the corporate had used an older variation of the wordmark.
HealthSouth was incorporated in Birmingham, Alabama as a Delaware company on Washington’s Birthday, 1984 as Amcare, Inc. by its founder Richard M. Scrushy. the corporate opened its first facility in Little Rock, Arkansas, and one in Birmingham later that year.
In 1985 the corporate changed its name to HealthSouth Rehabilitation Corporation.
In 1986, the corporate went public with its IPO on the NASDAQ stock market under the ticker symbol HSRC. At the top of the company’s last investor roadshow presentation in NY City before its IPO, Scrushy received an ovation from the investment bankers attending, an extreme rarity.
In September 1988, the corporate moved to the NY stock market and have become listed under the symbol HRC.
By 1990 the corporate had expanded to 50 facilities across the US. HealthSouth finished out 1992 with $400 million in annual revenue. In 1993, the corporate acquired 28 hospitals and 45 outpatient rehabilitation facilities from National Medical Enterprise for around $300 million in cash.
In 1994, HealthSouth further expanded when it announced it might buy fellow Birmingham-based ReLife for $180 million available. In 1995, the corporate acquired Caremark Orthopedic Services. More read about encompass health
Throughout the mid-1990s, HealthSouth expanded rapidly through mergers and acquisitions. In 1995, the corporate changed its name to HealthSouth Corporation to raised reflect its diversified interests in healthcare.
On August 31, 1995, HealthSouth CEO Richard Scrushy announced that HealthSouth was getting to build a replacement headquarters on US Highway 280 in Birmingham. The new corporate campus was to be built on 85 acres (340,000 m2) of land that the corporate had bought from Southern Company earlier that year.
Southern Company had abandoned plans to create a company campus on the location, choosing an office complex further down Highway 280 within the Inverness area.
the company campus plans included a five-story headquarters building with a connecting conference house, parking deck, print production building, and a campus land management building.
HealthSouth was able to economize on the location preparation by making use of the various improvements Southern Company had already made to the property, including utilities and a slip road. the corporate moved into the new headquarters building in December of 1996.
HealthSouth’s “H” logo in black. the brand first appeared in 1996 because of the recognizable symbol for the corporate.
In January 1995 the corporate entered the surgery center business with its $155 million acquisition of Surgical Health Corporation. One month later the corporate acquired Novacare’s entire rehabilitation hospital business for $215 million in cash.
In 1996 the corporate expanded into diagnostics with its purchase of Health Images Inc. within the beginning of 1996 the corporate adopted the slogan “The Healthcare Company of the 21st Century”. but a year later the corporate adopted the “H” logo as its corporate identity. HealthSouth made its largest acquisition yet when it purchased Horizon/CMS for $1.8 billion in 1997.
a couple of months later after the acquisition, HealthSouth sold the long-term care assets of Horizon/CMS it didn’t get to Integrated Health Services for $1.15 billion in cash. HealthSouth alongside many Healthcare publications called this the “deal of the century”.
Also in February 1997 the corporate finally moved into its new corporate headquarters. The headquarters building itself contained a corporation store and museum. HealthSouth continued on its acquisition spree through 1999 by purchasing the bulk of Columbia/HCA’s surgical division.
In 2001 the corporate announced it might, alongside Oracle Corporation, build the world’s first all-digital hospital on its corporate campus. The 13 story structure was meant as a replacement for its aging HealthSouth center in downtown Birmingham. Construction began soon after on the new HealthSouth center.