Encompass Health Corp: management transactions · United States · SEC (Form 4)

About Encompass Health Corp

Encompass Health Corp. (NYSE: EHC) is a leading U.S. provider of inpatient rehabilitation hospital services in the United States, headquartered in Birmingham, Alabama. The company was founded in 1984 as HealthSouth and completed its rebranding to Encompass Health in 2019. Today, it operates the largest network of inpatient rehabilitation hospitals in the country and is widely positioned as a specialist in intensive post-acute care for patients recovering from stroke, orthopedic surgery, neurological conditions, and other complex medical events. The company’s core business is centered on operating inpatient rehabilitation hospitals, supported by a meaningful network of joint ventures with acute-care hospitals and health systems. Its clinical model combines three hours of therapy per day, five days per week, frequent physician oversight, 24/7 nursing care, and multidisciplinary rehabilitation services. This integrated service offering is designed to restore function and help patients return home more quickly and safely, which is an important differentiator versus other post-acute care alternatives. From a competitive standpoint, Encompass Health benefits from scale, specialized clinical expertise, and a strong reputation with referral sources, payors, and patients. In its 2024 annual report, management emphasized a substantial unmet need for inpatient rehabilitation services in the U.S., driven by demographic aging and a constrained supply of licensed rehabilitation beds. The company also highlighted its breadth of operations, noting that 65 of its 166 hospitals were operated as joint ventures, which supports market access and local partnerships. These factors underpin its position as a national leader in a niche but strategically important segment of healthcare delivery. Geographically, Encompass Health has a broad U.S. footprint across numerous states. Its principal corporate offices and home office are in Birmingham, Alabama. The network continues to expand through new hospital openings and bed additions, reinforcing the company’s growth strategy. In 2025, for example, the company announced plans for a new inpatient rehabilitation hospital in North Las Vegas and later opened a new hospital in St. Petersburg, Florida, signaling continued investment in capacity expansion. Recent developments are also notable. In February 2026, Encompass Health reported strong fourth-quarter and full-year 2025 results, with revenue growth, EBITDA expansion, and additional capacity added during the year. Management also provided 2026 guidance and reiterated the long-term demand tailwind from an aging U.S. population. For investors, Encompass Health offers a defensive healthcare profile, a specialized market niche, and exposure to a structural demographic growth theme, all while remaining listed on the NYSE in the United States.