Encompass Health announced it has entered into a definitive agreement to purchase substantially all of the assets of privately owned Alacare Home Health & Hospice. Birmingham, Alabama-based Alacare operates 23 home health locations and 23 hospice locations in Alabama and generated revenues of approximately $117M in 2018. The transaction is expected to close in the second quarter of 2019, subject to certain customary closing conditions and regulatory approvals. Encompass Health will fund the purchase with cash on hand and borrowings under its revolving credit facility.
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