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42-494: Le Défi BTT competed in the 2000 Louis Vuitton Cup , sailing FRA-46. The team finished sixth after the round robins, making the elimination stage. However they could not make the finals of the Cup. As Le Defi Areva they entered the 2003 Louis Vuitton Cup , finishing eighth with FRA-69. They were then eliminated by Victory Challenge in the first knock-out stage. In the first three Louis Vuitton Acts in 2004 Le Defi finished fifth of

84-500: A campus land management building. HealthSouth was able save money on the site preparation by making use of the many improvements Southern Company had already made to the property, which included utilities and an access road. The company moved into the new headquarters building in December 1996. In January 1995 the company entered the surgery center business with its $ 155 million acquisition of Surgical Health Corporation. One month later

126-450: A current filer with the SEC. By doing so, the company restated earnings from 2000 to 2003. The company also sold or closed many underperforming facilities, including its medical center division, in its effort to return to profitability. On May 15, 2006, the company completed its goal of once again becoming a current filer with the SEC when it filed its first quarter 2006 financial result. It was

168-437: A few of the company's eleven corporate aircraft, which included a Gulfstream V and a Sikorsky S-76 C+ helicopter. In an effort to save money, the company halted construction of its Digital Hospital, for which building costs had doubled, to $ 400 million. On May 10, 2004, Jay Grinney was chosen by the board as the company's permanent CEO. Soon after Grinney's appointment, the company moved forward with its goal of again becoming

210-598: The 29th America's Cup , Team New Zealand immediately accepted the challenge from the New York Yacht Club and announced that the next Cup would be in 2000, with the Louis Vuitton Cup being in late 1999. This delay was to avoid conflicting with the 1997/98 Whitbread Round the World Race and give Auckland the time to build the necessary infrastructure to host the cup. The New York Yacht Club

252-405: The U.S. Securities and Exchange Commission took action against HealthSouth regarding a corporate accounting scandal , in which its founder , chairman , and chief executive officer , Richard M. Scrushy , was accused of directing company employees to falsely report grossly exaggerated company earnings in order to meet stockholder expectations. In March 2003, HealthSouth's CEO Richard M. Scrushy

294-1016: The America syndicate before building ITA 45 and ITA 48. Umberto Panerai was a trainer. Skippered by Paul Cayard , AmericaOne was one of two syndicates from the San Francisco Bay Area in 2000. AmericaOne purchased OneAustralia as a training boat before developing USA-49 and USA-61. The team included tactician John Kostecki , navigator Terry Hutchinson , Lexi Gahagan, Billy Bates, Curtis Blewett , Josh Belsky , Gavin Brady , Sean Clarkson , Justin Clougher, Kevin Hall , Mike Howard, Pieter van Nieuwenhuyzen , Morgan Larson , David McClintock, Jim Nicholas, Carter Perrin, Greg Prussia, Russ Silvestri , Ralf Steitz, Phil Trinter , Morgan Trubovich, Matt Welling and Ray Davies . Robert Billingham

336-1013: The Cup. The crew included Chris Larson, Cameron Dunn, Brian MacInnes, Marco Constant, and John Bertrand . America True was one of two syndicates from the San Francisco Bay Area in 2000. The team was led by CEO Dawn Riley and John Cutler served as helmsman. The team was funded largely with private funding provided by G. Christopher Coffin , which allowed them to purchase Tag Heuer before developing USA-51. The design team, led by Phil Kaiko, also benefited from America 's design information. The crew included Buddy Melges , Kelvin Harrap , David Armitage, Carl Barkow, Liz Baylis , Ben Beer, Jamie Boeckel, Greg Burrell, Merritt Carey, Lisa Charles , Tom Faire, Daniel Fong , Scott Gregory, Stephen Gruver, Peter Heck, Al Palewicz, Katie Pettibone, Hal Sears, John Spence, Latimer Spinney, John Sweeney, Tucker Thompson, Brad Webb , Jon Ziskind, Jeff Madrigali , David Stevenson and Leslie Egnot . David Barnes skippered

378-581: The FAST 2000 team was the countries first America's Cup challenge. SUI 59 was an unknown quantity when it arrived in Auckland but the syndicate ended up with a disappointing 2 wins over the course of the Cup. Other crew members included Enrico Chieffi , Pierre Fehlmann, Yves Detrey, and Hans Bernard. Le Defi Bouygues Telecom Transiciel was a one boat challenge from France led by Syndicate head Luc Gelluseau and operations manager Pierre Mas . The team

420-479: The New York Yacht Club, the challenger of record, Young America built on John Marshall 's PACT '95 syndicate. The team's yacht's USA 53 and USA 58 were designed by Bruce Farr and built on the 1995 Cup defender Young America . The Helmsman was Ed Baird and the crew included tactician Jim Brady , navigator Ed Adams , Ross Halcrow , Tom Burnham, Dean Brenner, and Jamie Gale . Young Australia

462-528: The acquisition, HealthSouth sold the long-term care assets of Horizon/CMS it did not need to Integrated Health Services for $ 1.15 billion in cash. HealthSouth along with many Healthcare publications called this the "deal of the century". Also in February 1997 the company finally moved into its new corporate headquarters. The headquarters building itself contained a company store and museum. HealthSouth continued on its acquisition spree through 1999 by purchasing

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504-849: The campaign were experienced sailors and America's Cup campaigners Sir James Hardy and Iain Murray . Three round robin series (RR1-RR3) were held. During RR1 a team scored 1 point per win. During RR2 a team scored 4 points per win. During RR3 a team scored 9 points per win. HealthSouth Encompass Health Corporation , based in Birmingham, Alabama , is one of the United States' largest providers of post-acute healthcare services, offering both facility-based and home-based post-acute services in 36 states and Puerto Rico through its network of inpatient rehabilitation hospitals, home health agencies, and hospice agencies. Effective January 2, 2018,

546-409: The cash for interest payments of senior bonds and principal payments due on a $ 344 million convertible bond . The board agreed that the company's cash flow problems were too great to tackle on its own. At the advice of its lender JPMorgan Chase , the company hired restructuring firm Alvarez and Marsal to bring its finances in order and immediately appointed Bryan Marsal Chief Restructuring Officer. By

588-504: The company acquired Novacare 's entire rehabilitational hospital business for $ 215 million in cash. In 1996 the company expanded into diagnostics with its purchase of Health Images Inc. In the beginning of 1996 the company adopted the slogan " The Healthcare Company of the 21st Century ". Less than a year later the company adopted the "H" logo as its corporate identity. HealthSouth made its largest acquisition yet when it purchased Horizon/CMS for $ 1.8 billion in 1997. A few months later after

630-504: The company acquired Caremark Orthopedic Services. Throughout the mid-1990s, HealthSouth expanded rapidly through mergers and acquisitions. 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. The new corporate campus

672-538: The company changed its name to HealthSouth Rehabilitation Corporation . In 1986, the company went public with its IPO on the NASDAQ Stock Exchange under the ticker symbol HSRC. At the end of the company's last investor roadshow presentation in New York City before its IPO, Scrushy received a standing ovation from the investment bankers in attendance, an extreme rarity. In September 1988,

714-637: The company moved to the New York Stock Exchange and became listed under the symbol HRC. By 1990 the company had expanded to 50 facilities across the US. HealthSouth finished out 1992 with $ 400 million in annual revenue. In 1993, the company acquired 28 hospitals and 45 outpatient rehabilitation facilities from National Medical Enterprise for around $ 300 million in cash. In 1994, HealthSouth further expanded when it announced it would buy fellow Birmingham-based ReLife for $ 180 million in stock. In 1995,

756-474: The company posted a large loss. HealthSouth was accused by the U.S. Securities and Exchange Commission (SEC) of an accounting scandal where the company's earnings were falsely inflated by $ 1.4 billion. In 1996, Scrushy allegedly instructed the company's senior officers and accountants to falsify company earnings reports in order to meet investor expectations and control the price of the company's stock. The fraud continued for seven years. In certain fiscal years,

798-449: The company's headquarters after the company's chief financial officer William Owens agreed to wear a wire in a failed attempt to get Scrushy to talk about the fraud. The board of directors worked vigorously on rectifying the accounting issues, starting with the termination of CEO Scrushy in 2003 and paying $ 325 million in 2004 regarding allegations of the company having defrauded various federal healthcare programs. In June 2005, Scrushy

840-505: The company's income was overstated by as much as 4700%. The $ 1.4 billion represents more than 10% of the company's total assets. At one point, the company's corporate taxes—based on its fraudulent earnings—were higher than its actual earnings. In 1998, HealthSouth was accused of violation of the Securities Exchange Act by failing to disclose negative trends and misrepresenting company's financial information. In 2003,

882-551: The eight teams, sailing with FRA-69. After this the team began supporting China Team and FRA-69 became CHN-69. The team finished last in the 2007 Louis Vuitton Cup . 2000 Louis Vuitton Cup The 5th Louis Vuitton Cup was held in Auckland , New Zealand, in 2000. The winner, Prada Challenge , went on to challenge for the 2000 America's Cup . It was the first time in the competition's history that there would not be an American challenger or defender. After winning

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924-481: The end of 2003, the company had most of its finances reorganized and was able to avoid Chapter 11 bankruptcy . Efforts were made at the corporate headquarters to eradicate all signs of the prior existence of Scrushy within the company. The board removed Scrushy's name from the conference center, closed the company store and museum and opened the fifth floor executive offices to all employees, which, during Scrushy's tenure, had been kept away. The board also sold all but

966-608: The familiar name of Stars & Stripes , common to all of Conner's boats since 1986. The team was representing the Cortez Racing Association and included Peter Isler and Ken Read in the afterguard. Peter Holmberg also joined the team as a tactician, merging the US Virgin Islands Challenge into the team after the syndicate ran out of funds. Other personnel included Bill Trenkle , Tom Whidden and Erle Williams . Representing

1008-402: The first time the company had filed a 10-Q since its accounting scandal began. On August 14, 2006, the company unveiled its restructuring plan which included the sell, spin-off or other disposition of its surgery, outpatient, and diagnostic divisions, along with a 1-for-5 reverse stock split, to coincide with its relisting on the New York Stock Exchange under the symbol HLS. The reverse stock split

1050-528: The majority of Columbia/HCA's surgical division. In 2001 the company announced it would, along with Oracle Corporation , build the world's first all-digital hospital on its corporate campus. The 13 story structure was meant as a replacement for its aging HealthSouth Medical Center in downtown Birmingham. Construction began soon after on the new HealthSouth Medical Center. The first of HealthSouth's accounting problems surfaced in late 2002 after CEO Richard M. Scrushy sold $ 75 million in stock several days before

1092-463: The new surgery center company would remain headquartered in Birmingham. The transaction was completed on June 30, 2007, with the creation of Surgical Care Affiliates . On April 29, 2007, HealthSouth announced a definitive agreement to sell its diagnostic division to the Gores Group for $ 47.5 million. It was also announced that the newly formed company was to remain in Birmingham. The transaction

1134-837: The organization changed its name to Encompass Health Corporation and its New York Stock Exchange ( NYSE ) ticker symbol from HLS to EHC. In 2003, the U.S. Securities and Exchange Commission took action against the company's CEO, Richard M. Scrushy , who was accused of directing company employees to falsely report company earnings to meet stockholder expectations. The company currently operates three divisions: inpatient rehabilitation , home health , and hospice . The company formerly operated an outpatient rehabilitation, surgery center and diagnostics division. The company also previously owned and operated several acute care hospitals that specialized in orthopedics , but sold all of those hospitals by 2006. The former outpatient division also operated an occupational medicine division until 2001, when it

1176-414: The raid at the company's corporate headquarters, the board of directors held an emergency meeting to discuss changes moving forward. One of the first actions was the termination of Richard Scrushy as chairman and CEO, and William Owens as CFO. Robert P. May was elected as interim CEO and Joel C. Gordon as chairman. Another issue that was immediately addressed by the board was the means by which it would obtain

1218-426: The team was formed in 1997 and became an early favourite in Auckland. The team used designer Germán Frers who worked for Il Moro di Venezia in 1992. Francesco de Angelis was the skipper with Rod Davis acting as the sailing coach. The crew included Matteo Plazzi , Alan Smith , Giuseppe Brizzi, Pietro D'Alì , Simone de Mari , mid-bowman Max Sirena and Torben Grael . Prada originally acquired two boats from

1260-540: The testing boat. Skippered by Pedro Campos , as in 1992 and 1995, the team added Olympic medal winning sailor Luis Doreste to the crew in 2000. Backed by the government, royal family and major sponsor Telefonica . The team built ESP 47 and ESP 56. Before the regatta a crew member, Martin Wizner, died almost instantly when he was hit in the head by a broken piece of equipment. Led by experienced French campaigner Marc Pajot and with German Jochen Schümann as helmsman,

1302-435: Was Syd Fischer 's final America's Cup challenge and currently was the most recent America's Cup entry from Australia. The young crew was led by James Spithill , then just 19, and included Wade Morgan, Joey Newton , and Andy Fethers. The syndicate sailed with two old boats, Sydney '95 (AUS-29) and oneAustralia (AUS-31) which were not competitive against some of the newer designs sailed by competitive syndicates. Involved in

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1344-589: Was acquitted on all 36 of the accounting fraud counts against him, most notably one count in violation of the Sarbanes-Oxley Act . By mid-to-late 2006, HealthSouth, which avoided filing for Chapter 11 Bankruptcy Protection, completed its recovery and relisted its stock on the New York Stock Exchange under the symbol HLS. In 2009, Scrushy was sued for fraud by HealthSouth investors and ordered to repay his company $ 2.8 billion. Following

1386-498: Was approved by stock holders at a special meeting at the company's corporate headquarters on October 18, 2006. The last step in HealthSouth's recovery from its accounting scandal occurred on October 26, 2006, when it was again relisted on the New York Stock Exchange. On January 29, 2007, the company announced it would sell its more than 600 outpatient centers to Select Medical Corporation for $ 245 million in cash. The transaction

1428-438: Was charged with the accounting fraud and the SEC announced it was investigating whether Scrushy's stock sale was related to HealthSouth posting a large loss. HealthSouth hired an outside law firm to review Scrushy's stock sale, with the firm concluding that the sale and profit loss were not related, although this did not take the company off the SEC's radar. On the evening of March 18, 2003 FBI agents executed search warrants at

1470-515: Was completed on July 31, 2007, with Diagnostic Health Corporation being formed. In July 2010, HealthSouth gave the American Cancer Society of Alabama the black V-12 2000 BMW 750iL , a bullet-proof sedan that HealthSouth purchased for security reasons under former CEO Richard Scrushy. Scrushy bought the car from HealthSouth in 2003 after an accounting scandal broke. Scrushy also owned a maroon 2000 bullet-proof V-12 BMW 750iL that

1512-404: Was completed on May 1, 2007. On March 26, 2007, HealthSouth announced it would sell its surgery center division to private investment partnership TPG Capital for $ 920 million in cash and equity interest in the newly formed company worth between $ 25 million and $ 30 million. The surgery center division comprised 139 outpatient surgery centers and three surgical hospitals. It was also announced that

1554-478: Was led by Australian Peter Gilmour. The team was hit early on by the loss of former syndicate head Makoto Namba, who was lost at sea, and the Asian financial crisis , which severely limited the team's budget. The team launched JPN 44 and JPN 52 for the 2000 Louis Vuitton Cup. Team Dennis Conner was Dennis Conner 's eighth America's Cup challenge or defence. The team was sponsored by Citizen Watches and USA-55 adopted

1596-512: Was skippered by Bertrand Pacé , who replaced Marc Pajot from the 1995 challenge, and Thierry Peponnet was the teams tactician. Thierry Fouchier was also on the crew. Two other French syndicates attempted to form challenges and almost competed as Le Defi Sud, but in the end lacked the money required to charter a boat to compete. The third challenge from the Japanese syndicate funded by S&B foods chairman Tatsumitsu Yamasaki . The team

1638-529: Was sold. HealthSouth also sold its Long-term acute care facilities in May 2011. The long-term hospitals contributed around $ 200 million in revenue. HealthSouth was incorporated in Birmingham, Alabama as a Delaware company on February 22, 1984, as Amcare, Inc. by its founder Richard M. Scrushy . The company opened its first facility in Little Rock, Arkansas and one in Birmingham later that year. In 1985

1680-448: Was the challenger of record. By 31 January 1998 16 teams from 10 nations had made the $ US 250,000 deposit to officially challenge for the America's Cup. In the end only 11 challenges from seven nations competed for the Louis Vuitton Cup. Hong Kong, British and Russian challenges withdrew while an American team and a French team merged into existing challenges. A strong two boat challenge led by Patrizio Bertelli and sponsored by Prada ,

1722-456: Was the chief operations officer. Funded by Dr Jim Andrews , Aloha Racing built on their ocean racing history to launch an America's Cup challenge from Hawaii. Skippered by veteran John Kolius , the team secured sponsorship from HealthSouth to ensure their participation. The team built USA-50 and USA-54, both called Abracadabra 2000 , and opted to train in Hawaii, rather than Auckland, before

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1764-489: Was to be built on 85 acres (340,000 m ) of land that the company had bought from Southern Company earlier that year. Southern Company had abandoned plans to build a corporate campus on the site, opting for an office complex further down Highway 280 in the Inverness area. The corporate campus plans included a five-story headquarters building with a connecting conference center, parking deck, print production building, and

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