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 reports company developments for a healthcare operator focused on critical illness recovery hospitals, rehabilitation hospitals and outpatient rehabilitation clinics in the United States. Recurring updates cover operating and financial results, business outlook, cash dividends, segment performance and healthcare regulatory matters tied to its hospital and clinic network.
News about SEM also includes capital-structure disclosures, material agreements, shareholder voting matters and governance actions. Corporate updates may address completed portfolio changes, such as the Concentra distribution, and related discontinued-operations reporting.
HonorHealth Rehabilitation Hospital, a partnership between Select Medical and HonorHealth, has received CARF accreditation and specialty certifications for its stroke, brain injury, and amputation programs. This three-year accreditation signifies the highest standard for rehabilitation facilities, ensuring quality patient care and services. Achieved through a virtual peer review process due to COVID-19, the accreditation highlights the hospital's commitment to excellence in patient satisfaction and outcomes. Scott Keen, the CEO, emphasized the significance of this achievement for the community and staff.
Select Medical Holdings Corporation (NYSE: SEM) will announce its third-quarter financial results for 2020 on October 29, 2020, post-market. A conference call to discuss these results, along with the COVID-19 pandemic's impact on its reporting segments, is scheduled for October 30, 2020, at 9:00 AM ET. Select Medical, a major operator in healthcare, has 101 critical illness recovery hospitals and 1,757 outpatient rehabilitation clinics across the U.S. It also operates 522 occupational health centers through its subsidiary Concentra.
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.