HealthSouth To Buy Encompass Home Health And Hospice For $750 Mln

HealthSouth Corp. said it has agreed to buy privately-held EHHI Holdings Inc., the owner of Encompass Home Health and Hospice, for about $750 million. The deal has been approved by both boards and is expected to close before the end of the year, HealthSouth said in a statement. Encompass is the fifth biggest provider of Medicare-focused home health services in the U.S. with 140 locations across 13 states. The company is currently owned by private investment firm Cressey & Company LP. Shares of HealthSouth, the biggest operator of inpatient rehabilitation hospitals in the U.S., were not yet active in premarket trade, but have gained 14.6% in the year so far, while the S&P 500 has gained 11.6%.