HealthSouth Corporation (NYSE: HLS) announced today that it will change its name to Encompass Health Corporation, after acquiring Encompass Home Health and Hospice for $750 Million in November 2014. In addition to the name change, effective January 2, 2018, the company will also change its NYSE ticker symbol from “HLS” to “EHC.”
“This name change and rebranding initiative reflect our expanding national footprint and the strategy we are pursuing to deliver high-quality, cost-effective care across the post-acute continuum,” HealthSouth President and CEO Mark Tarr said in a statement. “The name Encompass Health signals our commitment to creating a seamless system where high-quality care is coordinated by clinical teams across the inpatient and home settings.”
As the name change begins taking effect in the first quarter of 2018, the company will also update its logo, signage, website and brand assets across its hospitals and agencies. These transitions are expected to be complete by the end of 2019.
The company will work with its joint venture partners during this period to coordinate name and logo updates for jointly-owned assets. A new home office will also open in early 2018, remaining in the company’s Birmingham, Alabama headquarters.
The total cost of rebranding is estimated at $25 to $30 million.
“The decision to rebrand as Encompass Health is the result of a yearlong, research-intensive process and is intended to raise awareness of our company’s strategy and value proposition with all key constituencies,” Tarr said. “Throughout this process, we have worked closely with Prophet, a leading brand-driven growth consulting firm.”
Written by Elizabeth Jakaitis