On September 24, 1986, HealthSouth began trading as a public company on the NASDAQ as HSRC. HealthSouth began trading on the NYSE on August 11, 1989 under the ticker HRC. On January 1, 2018, HealthSouth completed its planned name change to Encompass Health Corporation and began trading under the ticker EHC.

What is HealthSouth called now?

Encompass Health
HealthSouth Corp., an operator of inpatient rehabilitation hospitals and provider of home-based care, has changed its name to Encompass Health Corp. The operator has changed its ticker symbol on the New York Stock Exchange from “HLS” to “EHC.”

Why did HealthSouth change its name?

In 1995, the company changed its name to HealthSouth Corporation to better reflect its diversified interests in healthcare. On August 31, 1995, HealthSouth CEO Richard Scrushy announced that HealthSouth was going to build a new headquarters on US Highway 280 in Birmingham.

Who owns HealthSouth?

Richard Scrushy
HealthSouth was the brainchild of Richard Scrushy. Scrushy grew up in Selma, Alabama, and earned a degree in respiratory therapy from the University of Alabama, Birmingham. By the age of 30 he had advanced to vice-president at Lifemark Corp., a Houston-based health care management firm.

When was the HealthSouth scandal?

2002
The infamous $2.8 billion accounting scandal at HealthSouth, which was perpetrated from 1996 through 2002, left a trail of misery in its wake. Included in the carnage was the imprisonment of CEO Richard Scrushy and several HealthSouth CFOs, among a number of other company officials.

How did HealthSouth recover?

NEW YORK, Oct 15 (Reuters) – HealthSouth Corp HLS. N, which has been emerging from an accounting scandal, said on Monday it won a $440 million U.S. tax recovery for overstatements of taxable income attributable to financial fraud by members of past management.

How did HealthSouth get caught?

HealthSouth were caught for fiddling their accounts, in order to overstate profits that they never had. When he informed the FBI, they raided HealthSouth’s offices and uncovered the massive scandal at hand.

Does HealthSouth exist?

HealthSouth today announced it will change its name to Encompass Health Corp., effective Jan. 2, 2018. Founded in 1984, the company is the nation’s leading owner and operator of inpatient rehabilitation hospitals.

Who went to jail for HealthSouth?

William Owens, a former chief financial officer and briefly chief executive officer at HealthSouth Corp., Birmingham, Ala., was sentenced to five years in prison for his role in massive accounting fraud at the company.

What happened to the CEO of HealthSouth?

The 60-year-old has been out of prison for more than a year, following his 2006 bribery conviction for paying $500,000 to former Alabama Governor Don Siegelman’s campaign for a state lottery in exchange for a seat on a state hospital regulatory board. …

When did HealthSouth change its name to encompass?

HealthSouth today announced it will change its name to Encompass Health Corp., effective Jan. 2, 2018. Founded in 1984, the company is the nation’s leading owner and operator of inpatient rehabilitation hospitals. The change will be accompanied by a NYSE ticker symbol change, from “HLS” to “EHC.”

When did HealthSouth go back to the NYSE?

After Scrushy’s fall, the company avoided bankruptcy, sold off Surgical Care Affiliates and returned to the NYSE listings. By 2007, HealthSouth settled all the outstanding litigation and paid all of its settlements.

When does Encompass Health change its ticker symbol?

Founded in 1984, the company is the nation’s leading owner and operator of inpatient rehabilitation hospitals. The change will be accompanied by a NYSE ticker symbol change, from “HLS” to “EHC.” Beginning in the first quarter of 2018, both business segments will begin transitioning to the Encompass Health name, the company announced.

Who was the CEO of HealthSouth in 2003?

At its height in 2003, the company reported $4.5 billion in revenue, but that was the same year CEO Richard Scrushy was indicted for accounting fraud. In 2005, he was acquitted on all charges but later convicted in another case of bribery, conspiracy, and mail fraud. He was released in 2012.