Welcome to our dedicated page for Select Medical news (Ticker: SEM), a resource for investors and traders seeking the latest updates and insights on Select Medical stock.
Select Medical Holdings Corporation (NYSE: SEM) generates frequent news due to its role as one of the largest operators of critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics in the United States based on the number of facilities. Company announcements regularly highlight developments across its three reportable segments: the critical illness recovery hospital segment, the rehabilitation hospital segment, and the outpatient rehabilitation segment.
Investors following SEM news will see recurring coverage of quarterly and annual financial results, including segment-level performance for its hospital and outpatient rehabilitation operations. Earnings releases often discuss revenue trends, income from continuing operations, Adjusted EBITDA, and other financial metrics, along with commentary on factors such as reimbursement, labor costs, and regulatory considerations referenced in the company’s forward-looking statements.
News flow for Select Medical also includes updates on capital allocation and corporate structure. The company has issued press releases about cash dividend declarations, a common stock repurchase program authorized by its board of directors, and financing transactions such as amendments to its credit agreement and the issuance of senior notes used to refinance existing debt. These items appear in both press releases and related Form 8-K filings.
Governance and strategic items are another source of SEM headlines. Recent disclosures describe leadership changes, including the appointment of a new chief executive officer and related board and executive role transitions, as well as amendments and restatements of the company’s bylaws. In addition, Select Medical has reported a tax-free distribution of shares of Concentra Group Holdings Parent, Inc. to its stockholders and, more recently, a non-binding indication of interest from its Executive Chairman, Co-Founder and Director to acquire all outstanding shares of Select Medical for cash consideration within a stated range per share.
Operational news can feature joint venture and partnership activity. For example, Select Medical Corporation announced an agreement with Ballad Health to jointly operate a critical illness recovery hospital in Tennessee, with Select Medical as majority owner and managing partner and plans to relocate the facility within Ballad Health’s system following regulatory approval. For readers tracking SEM, the news stream offers insight into financial performance, capital structure, leadership, governance, and facility-level initiatives across its nationwide post-acute and rehabilitation platform.
Select Medical Corporation announced a joint venture with Rush University System for Health to manage a critical illness recovery hospital, an inpatient rehabilitation hospital, and 63 physical therapy centers in the Chicago and Northwest Indiana area. Select Medical will be the majority owner and managing partner. The agreement includes the construction of an 84-bed facility, Rush Specialty Hospital, expected to open in 2022. This partnership aims to enhance post-acute care services, particularly following the COVID-19 pandemic, improving recovery paths for patients with critical illnesses.
Select Medical reported second-quarter net revenues of $1,232.7 million, down from $1,361.4 million year-over-year. Income from operations decreased slightly to $119.5 million, while net income rose 12.5% to $67.5 million. The Provider Relief Fund contributed $55 million in operating income due to COVID-19 impacts. Adjusted EBITDA was $178.8 million, down from $186.2 million a year ago. Earnings per share improved to $0.39, up from $0.33. The company continues to navigate operational challenges amid the pandemic.
Select Medical Holdings Corporation (NYSE: SEM) will announce its second quarter financial results for the period ending June 30, 2020, on July 30, 2020, post market close. A conference call to discuss these results and the COVID-19 impact across its segments will take place on July 31, 2020, at 9:00 AM ET. As of March 31, 2020, Select Medical operated 101 critical illness recovery hospitals and 1,753 outpatient rehabilitation clinics in the U.S.