In recent months, Encompass has announced and constructed a slew of new inpatient rehabilitation projects:
- 1.28.2020: Coralville, Iowa Source Link
- Joint venture with University of Iowa Health System
- 40 bed facility
- Previously announced in 2019
- Will open in the 2nd quarter of 2020
- 1.21.2020: Greenville, South Carolina Source Link
- 40 bed facility
- Will open in mid 2021
- 1.8.2020: San Angelo, Texas Source Link
- Joint venture with Shannon Health
- 40 bed facility
- Will replace Shannon Health’s current 14-bed rehab unit
- Will open in spring 2021
- 11.13.2019: Toledo, Ohio Source Link
- 40 bed facility
- Will open in late 2020
- 9.9.2019: Katy, Texas Source Link
- Began operations on September 9, 2019
- 40 bed facility
- 8.27.2019: Henry County, Georgia Source Link
- 50 bed facility
- Will open in the 3rd quarter of 2021
- 8.22.2019: Cumming, Georgia Source Link
- 50 bed facility
- Will open in the 4th quarter of 2020
- 7.25.2019: Tampa Bay, Florida Source Link
- 50 bed facility
- Will open in the 2nd quarter of 2021
- 11.29.2018: Sioux Falls, South Dakota Source Link
- 40 bed facility
- Will open in summer 2020
Why is Encompass opening up all of these inpatient rehabilitation facilities?
To put it simply, they’re betting on the coming surge of baby boomers getting on Medicare. IRFs are a prime way to capitalize on the demographic trend.
We’ll see if Encompass’ IRF strategy comes to fruition – based on recent earnings calls, they plan to build four to six IRFs per year, and the firm is well-positioned to succeed.
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