Encompass Health Corporation (EHC) recently announced plans to construct an inpatient rehabilitation hospital in Daytona Beach, FL. The hospital will house 50 beds and comprise advanced rehabilitation technologies and equipment.
The latest update reflects EHC’s endeavor to expand rehabilitative care across the Atlantic coast of Florida. This, in turn, is likely to aid patients suffering debilitating illnesses and injuries in the Daytona Beach area. A well-versed medical team comprising highly specialized nurses, therapists and physicians will enable Encompass Health to seamlessly serve the region’s residents.
Encompass Health’s one of the most longstanding endeavors is pretty evident from its recent move of footprint expansion throughout Florida. Presently, EHC has 19 inpatient rehabilitation hospitals across the state. The 19th hospital of Florida in St. Petersburg was inaugurated in September 2022.
EHC further plans to penetrate Florida with seven more hospitals, likely to be built in the next few years.
Encompass Health seems to be on a spree to unveil plans to build hospitals across different U.S. states and subsequently, inaugurate the same within a reasonable timeline. Through these hospitals, the ulterior motive of EHC remains to provide specialized rehabilitative care to patients in close proximity to their homes and delve into the underserved parts of the nation grappling with insufficient access to quality care.
Strong demand for high-quality rehabilitation care requires patients to return to their normal daily activities. This provides an impetus to Encompass Health to ramp up its expansion plans.
Additionally, a swift geographical expansion strategy continues to bolster EHC’s nationwide reach and contributes to revenues of its sole operating segment, Inpatient Rehabilitation. Management anticipates net operating revenues within $4,320-$4,350 million for 2022.
Encompass Health’s current count of inpatient rehabilitation hospitals stands at 153, stretching across 36 states and Puerto Rico.
Shares of Encompass Health have lost 12.4% in a year compared with the industry’s decline of 30.8%.
Source: Nasdaq