Yahoo Finance Encompass Health (EHC) Opens JV Hospital for Oklahoma Patients
Encompass Health Corporation EHC recently announced the opening of Ascension St. John Rehabilitation Hospital in Owasso, OK. The facility, which operates through a joint venture between EHC and Ascension St. John, comprises 40 beds and is equipped with advanced rehabilitation technologies, on-site dialysis portfolio as well as a well-versed medical team.
Plans of establishing the joint-venture hospital were laid in February 2021 and in a timeframe of slightly more than two years, the facility was inaugurated to commence operations and can rightly address the dire need for rehabilitation services in the greater Tulsa area.
This, in turn, is likely to extend coordinated care to help Owasso’s patients recovering from debilitating illnesses and injuries, which include strokes and other neurological disorders, brain injuries, spinal cord injuries, amputations and intricate orthopedic conditions. Well-devised rehabilitative care helps patients return to their daily activities.
The dual endeavor of Encompass Health can be clearly reflected through the newly opened hospital. The first motive is strengthening the presence of EHC across Oklahoma and taking its count of inpatient rehabilitation hospitals to two in the state and 156 across the United States. The resultant increase in the inpatient rehabilitation hospital count is likely to drive revenues of EHC’s Inpatient Rehabilitation segment.
The second motive of Encompass Health is strengthening ties with Ascension St. John, which boasts a widespread presence through its healthcare facilities across eastern Oklahoma. In addition to the Ascension St. John Rehabilitation Hospital, the partners also jointly operate the St. John Rehabilitation Hospital which is situated in Broken Arrow and was inaugurated in 2016. The rising demand for rehabilitation services compelled the hospital to increase its bed count from 40 to 60 in 2019.
Encompass Health often resorts to renowned healthcare organizations to synergize and construct inpatient rehabilitation hospitals. Tying up with a regional healthcare provider where the hospitals are built puts EHC at an advantage. This is because by operating locally, EHC can gain an in-depth knowledge of the healthcare needs in its immediate surroundings.
This month, Encompass Health opened another joint venture inpatient rehabilitation hospital named Patricia Neal Rehabilitation Hospital West located in Knoxville, TN. The facility is jointly operated by EHC and Covenant Health and, it marked the tenth location of Encompass Health across Tennessee.
Shares of Encompass Health have gained 9.9% in the past six months compared with the industry’s 1% growth. EHC currently carries a Zacks Rank #3 (Hold).
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Stocks to Consider
Some top-ranked stocks in the Medical space are Catalyst Pharmaceuticals, Inc. CPRX, Alcon Inc. ALC and LivaNova PLC LIVN. While Catalyst Pharmaceuticals sports a Zacks Rank #1 (Strong Buy), Alcon and LivaNova carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Catalyst Pharmaceuticals’ earnings surpassed estimates in three of the last four quarters and missed the mark once, the average being 3.35%. The Zacks Consensus Estimate for CPRX’s 2023 earnings indicates a rise of 89.3%, while the same for revenues suggests an improvement of 77.9% from the respective prior-year tallies. The consensus mark for CPRX’s 2023 earnings has moved 21.4% north in the past 30 days.
The bottom line of Alcon outpaced estimates in three of the trailing four quarters and matched the mark once, the average beat being 12.37%. The Zacks Consensus Estimate for ALC’s 2023 earnings indicates a rise of 15.2%, while the same for revenues suggests an improvement of 6.8% from the respective prior-year tallies. The consensus mark for ALC’s 2023 earnings has moved 2.8% north in the past 30 days.
LivaNova’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average being 2.62%. The Zacks Consensus Estimate for LIVN’s 2023 earnings indicates a rise of 8%, while the same for revenues suggests an improvement of 5.1% from the respective prior-year tallies. The consensus mark for LIVN’s 2023 earnings has moved up 4.9% in the past 30 days.
Shares of Catalyst Pharmaceuticals and Alcon have gained 26.4% and 16.5%, respectively, in the past six months. However, the LivaNova stock has lost 15.3% in the same time frame.
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