Encompass Health Corp., a national leader in post-acute care, today announced it has entered into a definitive agreement to purchase the home health and hospice assets of Frontier Home Health and Hospice in Alaska, Colorado, Montana, Washington and Wyoming.
The transaction is expected to close in the second quarter of 2021, subject to certain customary closing conditions and regulatory approval. At closing, nine home health and 11 hospice locations will become part of an Encompass Health national network of more than 340 home health and hospice locations. These Frontier locations generated revenues of approximately $36 million in 2020. Encompass Health expects to fund the transaction with cash on hand and borrowings under its revolving credit facility.
In addition to being the largest owner and operator of inpatient rehabilitation hospitals, Encompass Health is the fourth largest provider of Medicare-certified skilled home health services in the country and one of the 10 largest hospice providers in the country. This agreement allows the Company to serve new markets in Alaska, Montana and Washington, and expand its existing presence in Colorado and Wyoming.
“At Encompass Health, our focus remains on aligning with high-quality healthcare providers to best serve patients across the country. Frontier Home Health and Hospice has a proven track record of success in its growth and patient outcomes and is an exceptional fit for our network,” said Mark Tarr, president and CEO of Encompass Health. “We look forward to welcoming Frontier’s 375 employees to our organization.”
“Since our founding in 2008, employees of Frontier Home Health and Hospice have provided compassionate, quality care in the markets we serve,” said George Mandes, founder and president of Frontier Home Health and Hospice. “We know we have found the best organization in Encompass Health to build on our legacy as they are widely known as the industry leader in home health and hospice with their commitment to employees and patient care.”
About Frontier Home Health and Hospice
Frontier Home Health and Hospice was founded in 2008 to provide home health and hospice services in Montana and has expanded to include locations in Alaska, Colorado, Idaho, Washington, and Wyoming, both as company locations and joint ventures with hospital systems. For more information, please visit www.frontierhhh.com.
About Encompass Health
As a national leader in integrated healthcare services, Encompass Health offers both facility–based and home–based patient care through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. With a national footprint that includes 139 hospitals, 241 home health locations, and 82 hospice locations in 39 states and Puerto Rico, the Company provides high–quality, cost-effective integrated healthcare. Encompass Health is ranked as one of Fortune’s 100 Best Companies to Work For. For more information, visit encompasshealth.com, or follow us on our newsroom, Twitter, Instagram and Facebook.
Media Contact
Hillary Carnel | 205 970-5912
hillary.carnel@encompasshealth.com
Investor Relations Contact
Crissy Carlisle | 205 970-5860
crissy.carlisle@encompasshealth.com