HealthSouth completes purchase of home health firm

BIRMINGHAM, Ala. (AP) – Birmingham-based HealthSouth Corp. has completed the acquisition of a large home health company.

HealthSouth announced in November it planned to buy Encompass Home Health and Hospice in a deal worth about $750 million. HealthSouth said Friday it has completed the purchase of the Dallas, Texas-based company from a group led by Cressey & Co.

Encompass has about 5,000 employees in the home health business. HealthSouth is the nation’s largest owner and operator of inpatient rehabilitation hospitals. HealthSouth President Jay Grinney said bringing the two companies together allows HealthSouth to offer both facility-based and home-based services.

(Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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