HealthSouth buys Encompass Home and Health Hospice for $750 mln

Nov 24 (Reuters) - Hospital operator HealthSouth Corp said on Monday it bought privately held EHHI Holdings Inc, which owns Encompass Home Health and Hospice, for about $750 million to expand its home health business.

HealthSouth bought Encompass from healthcare-focused private investment firm Cressey & Company LP.

The acquisition is the latest in a string of deals in the home and health hospice sector. Kindred Healthcare Inc bought Gentiva Health Services Inc last month for $1.8 billion in a cash-and-stock transaction.

J.P. Morgan Securities LLC acted as exclusive financial adviser to HealthSouth, while Skadden, Arps, Slate, Meagher & Flom LLP acted as legal adviser to HealthSouth. (Reporting by Anjali Rao Koppala in Bangalore; Editing by Saumyadeb Chakrabarty)