Enhabit, Inc. Files Definitive Proxy Statement

TL;DR

Enhabit filed its proxy statement, shareholders vote soon.

AI Summary

Enhabit, Inc. filed a Definitive Proxy Statement (DEFA14A) on June 18, 2024. This filing is related to the company's solicitation of proxies for its upcoming shareholder meeting. The document provides information required by the SEC for proxy statements, including details about the company's operations and governance.

Why It Matters

This filing is crucial for shareholders as it outlines the agenda for the company's annual meeting and provides information necessary for them to make informed voting decisions on corporate matters.

Risk Assessment

Risk Level: low — This is a routine regulatory filing (DEFA14A) and does not contain new financial information or strategic changes that would inherently increase risk.

Key Players & Entities

• Enhabit, Inc. (company) — Registrant
• 0001803737-24-000091 (filing_id) — Accession Number
• 20240618 (date) — Filing Date
• DEFA14A (form_type) — SEC Filing Type

FAQ

Key Financial Figures

• $6 million — y the end of 2023. That was worth about $6 million in 2023, with the majority of that bein
• $13 — And there's a 13 – on average, about a $13 difference in the cost per visit when a
• $26 million — any. Those original cost estimates were $26 million to $28 million for standalone costs, we
• $28 million — inal cost estimates were $26 million to $28 million for standalone costs, we actually came
• $23 million — alone costs, we actually came in around $23 million to $24 million. So very proud of what w
• $24 million — actually came in around $23 million to $24 million. So very proud of what we were able to
• $27 million — that. From first quarter, we were about $27 million of corporate costs. I think that $27 mi

Filing Documents

• a6182024defa14a-solicitati.htm (DEFA14A) — 150KB
• 0001803737-24-000091.txt ( ) — 151KB

From the Filing

Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant o Check the appropriate box o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement Definitive Additional Materials o Soliciting Material under Rule 14a-12 Enhabit, Inc. (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check all boxes that apply) No fee required o Fee paid previously with preliminary materials o Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 On June 18, 2024, Enhabit, Inc. (the "Company") posted to the Investor Relations section of the Company's website transcripts of management comments at the Leerink Partners Healthcare Crossroads Conference 2024, held on May 29, 2024, and at the Goldman Sachs 45th Annual Global Healthcare Conference, held on June 11, 2024. The materials are available at httpsinvestors.ehab.com. TRANSCRIPT 05 - 29 - 2024 1000 A.M. CDT Enhabit Home Health Hospice Leerink Partners Healthcare Crossroads Conference 2024 2 Enhabit Home Health Hospice Leerink Partners Healthcare Crossroads Conference 2024 CORPORATE SPEAKERS Crissy Carlisle Enhabit Home Health Hospice Chief Financial Officer Barbara Jacobsmeyer Enhabit Home Health Hospice President and Chief Executive Officer PARTICIPANTS Analyst Leerink Partners PRESENTATION Analyst Okay, well, great. Good morning, everyone. Thanks for joining us today. I've got the team from Enhabit with me. Barb, Crissy, thanks for joining us. I'll just get into the most recent developments. Is there anything you care to share, offer up around the strategic alternatives process and the outcome of that And there's been some stuff filed today, so I don't know if there's anything you'd care to share or say. Barb Jacobsmeyer Yeah, what I would say is, hopefully people saw the preliminary proxy and the press release that was published last week went into a lot more detail on the strategic process. So I think clear from all of that that it was a very robust process. As far as kind of the new release this morning that folks may have seen. We're really confident in the slate that we have. We feel like we have a strong, very experienced board of directors. They have helped us navigate these waters over the last couple of years. So we're really confident in the future and with the leadership of our board. Analyst Okay, that's helpful. Everyone else can go read the proxies and the 8-Ks to get the update there. I want to start just with Barb. The evolution of the payer innovation strategy, you guys seemingly started a little bit late in the game when you took over control of the organization, had a much higher Medicare Advantage mix than the peers you have to aggressively get out and contract. And the amount of activity exceeded my expectations. Just where you are in the whole evolution of it, how you feel about how successful this has been Barb Jacobsmeyer Yeah, well, I do think it was critically, one of the most important things that we did was to develop the team. As you know, not only did we have a higher amount of fee-for-service, but the Medicare Advantage mix that we did have paid us with a significant discount. And so it was really important to get out there to get more and better contracts. I've been very pleased with the results of that team now sitting with 64 agreements. Most of those are regional agreements, but there are two national agreements, the most recent being the national agreement that went into effect January 1 of this year. And obviously the national just brings a much larger addressable market. Now the contracting is one piece, but the other piece we've been really pleased with is the work of the teams in the field, really being able to pivot and focus on not only bringing in those better paying contracted patients, but also using that to be seen as a more fulsome provider to our referral sources so that we can continue to gain therapy for service and frankly help us then stabilize that fee-for-service business that we do have. So pleased with that, continue to have a lot of work though, with the team. Still have about 30 agreements in the pipeline, 28 historic older agreements that were to the renegotiate. 3 Analyst Are the rates that you're getting "case rate, an episodic rate" maybe talk about how the structure of these rates are different than a per visit contract. Barb Jacobsmeyer Sure. So, historically, before the payer innovation, the majority of them were per visit, and it was about a 40% plu