April Anthony, CEO of Home Health and Hospice at Encompass Health Corp. (NYSE: EHC) will be stepping down in mid-June of this year. The move comes at a time when the company is considering a repositioning of its home health and hospice business, including a potential spin off or sale.
Anthony founded Encompass Home Health & Hospice in 1998 as her second home health venture and has led the company as it grew from a single start-up location to a large player in the industry with a national presence. She was previously the owner and CEO Liberty Health Services and prior to that, she was founder and CEO of Homecare Homebase.
“It’s been my honor to lead Encompass Health’s home health and hospice segment, and I am proud of what we have accomplished, Anthony said in a statement. “We have developed a premier network of nurses, therapists, social workers and home health aides across the country and have set a new industry standard for providing high-quality, cost-effective integrated care.”
Encompass provides both facility-based and home-based patient care through inpatient rehabilitation hospitals, home health agencies and hospice. The company operates 137 hospitals, 242 home health locations, and 83 hospice locations in 39 states and Puerto Rico.
The Encompass hospice segment brought in $53.6 million in the fourth quarter of 2020, up from $50.8 million in the prior year’s quarter. Adjusted EBITDA rose 11% to $55.5 million, exceeding Q4 2019’s $49.6 million.
The company has not indicated a timeframe for completing its repositioning, which echoes recent actions by large hospice providers. The Ensign Group (NASDAQ: ENSG) in 2019 spun-off its home health and hospice business into a new company, The Pennant Group (NASDAQ: ENSG). Earlier this year, Brookdale Senior Living (NYSE: BKD) sold an 80% stake in its home health and hospice operations to HCA Healthcare (NYSE: HCA) for $400 million.
Anthony has not yet indicated what she will do following her departure from Encompass.
“April has provided outstanding leadership to the home health and hospice business,” said Mark Tarr, president and CEO of Encompass Health. “Together, we have grown this segment’s revenue from approximately $400 million to $1.1 billion and substantially increased the geographical footprint of our services.”