Home Health Care News July 15, 2024
Enhabit Inc. (NYSE: EHAB) continues to improve its financial standing and position with Medicare Advantage (MA) partners as it battles with the activist investor AREX Capital Management.
The company released an early snapshot of its second-quarter earnings on Monday, ahead of the full, audited release of earnings on Aug. 6.
Of Enhabit’s non-Medicare visits, 43% are now under payer innovation contracts at “improved rates,” according to the company. That’s a 5% increase from the first quarter, when just 38% of visits took place under revised, improved contracts with MA plans.
Additionally, Enhabit reported that EBITDA will fall in the range of $24.5 million to $25 million, and bank debt has been reduced by $15 million.
“The strong start to 2024...
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