Encompass Health Closes Sea Pines Rehabilitation Hospital Indefinitely After Flooding
Encompass Health Corporation said Sea Pines Rehabilitation Hospital in Melbourne, Florida, remains closed indefinitely after flooding from torrential rains on Nov. 1-2, 2026 caused substantial damage, according to an 8-K furnished Friday with a press release.
Sea Pines is a 90-bed hospital owned by a joint venture between Encompass Health and Holmes Regional Medical Center, a Health First subsidiary. All patients were safely evacuated and either admitted elsewhere or discharged home, and all Sea Pines employees were accounted for, the company said.
Guidance unchanged
Encompass Health said the joint venture is committed to reopening and is evaluating options to refurbish or replace the hospital. During the closure, Sea Pines will incur remediation and certain operating expenses that the company intends to exclude from non-GAAP measures, along with related insurance proceeds.
The company reaffirmed full-year 2026 guidance issued Oct. 28, 2026: net operating revenue of $6,450 million to $6,500 million, Adjusted EBITDA of $1,395 million to $1,415 million, and adjusted earnings per share from continuing operations of $6.23 to $6.37. For the first nine months of 2026, Sea Pines had net operating revenue of an estimated $44 million, contributed an estimated $14 million to Adjusted EBITDA, and recorded 1,876 discharges.
By the numbers
- Sea Pines beds: 90
- Flood and evacuation dates: Nov. 1-2, 2026
- YTD Sea Pines net operating revenue: an estimated $44 million, the company said
- Full-year Adjusted EBITDA guidance: $1,395 million to $1,415 million
Sources
- Encompass Health Form 8-K Item 7.01 Sea Pines hospital flood closure press release (Exhibit 99.1), filed Nov. 6, 2026 (accession 0000785161-26-000242)
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.