US-based inpatient rehabilitation hospitals operator HealthSouth has completed the acquisition of EHHI Holdings for $750m.
EHHI Holdings owns Encompass Home Health and Hospice. Established in 1998, Encompass provides medicare focused home health services in the US.
It was previously owned by a group led by healthcare-focused private investment firm Cressey & Company.
With 5,000 healthcare and support professionals, Encompass operates in 140 locations across 13 states in the US.
HealthSouth president Jay Grinney said: "Encompass’ exceptional management team, strong corporate culture, and track record of providing high-quality, cost-effective home care and hospice services complements HealthSouth’s leadership position in inpatient rehabilitation.
"In addition to being best-of-class operators, Encompass has demonstrated an ability to acquire home health and hospice entities and successfully incorporate them onto their operating platform."
JP Morgan Securities was exclusive financial advisor to HealthSouth, while Skadden, Arps, Slate, Meagher & Flom acted as legal advisor.
At the time of acquisition, Encompass CEO April Anthony said: "We are thrilled to be joining HealthSouth and are confident that our mission of delivering a better way to care for our employees, patients, referral sources and all of our stakeholders will align well with HealthSouth’s mission and allow our merged organisations to continue to provide high-quality post-acute services to the communities we are privileged to serve."
HealthSouth operates inpatient rehabilitation hospitals, outpatient rehabilitation satellite clinics, as well as home health and hospice agencies.