On Thursday, Shares of HealthSouth Corp (NYSE:HLS), lost -1.08% to $40.35.
HealthSouth Corporation declared its Encompass Home Health operating unit has reached a definitive agreement to acquire the home health agency operations of CareSouth Health System, Inc. for a cash purchase price of $170 million. CareSouth operates a portfolio of 45 home health locations in 7 states and generated revenues of about $104 million in 2014. The transaction was approved by both companies’ boards of directors and is predictable to close in the fourth quarter of 2015, subject to regulatory approval. HealthSouth anticipates to fund the transaction with cash on hand and borrowings under its senior secured credit facility.
The CareSouth acquisition enables HealthSouth to leverage the operating platform of Encompass across home health locations in the new markets of Alabama, Georgia, North Carolina, South Carolina, and Tennessee. CareSouth also improves Encompass’ market share position in the key states of Florida and Virginia. Upon completion of this transaction, Encompass will become the third largest home health provider in Virginia and the ninth largest home health provider in Florida. These new home health locations will overlap with fourteen of HealthSouth’s existing inpatient rehabilitation hospitals. The addition of these assets will allow HealthSouth to better serve the post-acute needs of patients in those markets by offering both facility-based and home-based post-acute services.
“We are very happy to be joining forces with a great organization like CareSouth. By combining the CareSouth and Encompass teams, we will further our mission of providing a better way to care,” said April Anthony, Chief Executive Officer of Encompass. “We have respected the CareSouth administration team for some time and are confident our cultures and philosophies will align well.”
HealthSouth Corporation owns and operates inpatient rehabilitation hospitals in the United States. The company provides specialized rehabilitative treatment on an inpatient and outpatient basis.
Shares of Mellanox Technologies, Ltd. (NASDAQ:MLNX), inclined 2.14% to $40.18, during its last trading session.
Mellanox Technologies, declared it is now shipping Spectrum, the industry’s first 10, 25, 40, 50 and 100 Gigabit Ethernet, Open Ethernet-based switch, to multiple cloud, Web 2.0 and enterprise data center customers worldwide. The shipment of Spectrum, combined with Mellanox’s ConnectX-4 NICs, and LinkX fiber and copper cables, makes Mellanox the first to deliver comprehensive end-to-end 10, 25, 40, 50 and 100 Gigabit Ethernet data center connectivity solutions.
“We are excited to be the first to provide 10, 25, 40, 50 and 100 Gigabit Ethernet switch solutions that data center customers need in order to maintain their competitive edge while reducing their capital and operational expenses,” said Gilad Shainer, vice president of marketing at Mellanox Technologies. “Spectrum delivers the highest flexibility, performance and scalability – all of which have become table stakes in recently’s data-driven economy. We have now opened the door for businesses to reimagine what the data center is truly capable of delivering. Businesses are able to do much more, much faster than ever before.”
Mellanox Technologies, Ltd., a fabless semiconductor company, designs, manufactures, and sells interconnect products and solutions. The company’s products are used for computing, storage, and communications applications in the high-performance computing, Web 2.0, storage, financial services, enterprise data center, and cloud markets.
At the end of Thursday’s trade, Shares of Vanguard Natural Resources, LLC (NASDAQ:VNR), gained 2.39% to $8.98.
Eagle Rock Energy Partners, declared it has filed a definitive proxy statement in connection with the special meeting of unitholders to be held for purposes of voting on the projected merger with Vanguard Natural Resources (VNR) and intends to commence mailing definitive proxy materials on or about September 4, 2015. This action follows completion of the Securities and Exchange Commission review process recently.
In addition, Eagle Rock declared it has established a revised meeting date for the special meeting. At the special meeting, which will be held on October 5, 2015 at 10:00 a.m. Central Time at 1415 Louisiana Street, Suite 3900, Houston, Texas 77002, Eagle Rock unitholders will meet for the following purposes: (i) to consider and vote on the adoption of the formerly declared Agreement and Plan of Merger, dated as of May 21, 2015, by and among Eagle Rock, Vanguard, and various of their respective associates (the “Merger Agreement”) and (ii) to consider and vote on an advisory, non-binding basis to approve the merger-related compensation payments that, following pre-existing contractual arrangements, may become payable to Eagle Rock’s named executive officers in connection with the merger.
Vanguard Natural Resources, LLC, through its auxiliaries, acquires and develops oil and natural gas properties in the United States. It owns properties, and oil and natural gas reserves primarily located in nine operating basins, counting the Arkoma Basin in Arkansas and Oklahoma; the Permian Basin in West Texas and New Mexico; the Big Horn Basin in Wyoming and Montana; the Piceance Basin in Colorado; the Gulf Coast Basin in Texas, Louisiana, and Mississippi; the Wind River Basin in Wyoming; the Williston Basin in North Dakota and Montana; the Green River Basin in Wyoming; and the Powder River Basin in Wyoming.
Finally, Roper Technologies Inc (NYSE:ROP), ended its last trade with 0.01% gain, and closed at $158.74.
Roper Technologies, declared that it is presenting at the RBC Capital Markets Investor Conference on Wednesday, September 9, 2015 at 2:30 PM Pacific Time, at The Mandarin Oriental Hotel in Las Vegas, Nevada.
Roper Technologies, Inc., a diversified technology company, designs and develops software (both license and software-as-a-service), and engineered products and solutions for healthcare, transportation, food, energy, water, education, and academic research markets worldwide.
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