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.
Concentra (NYSE: CON) announced the completion of its spin-off from Select Medical through the distribution of 104,093,503 shares, representing 81.7% of Concentra's outstanding common stock. Select Medical stockholders received 0.806971 Concentra shares for each Select Medical share held as of November 18, 2024. Concentra, the largest U.S. occupational health services provider, operates 549 health centers and 156 onsite clinics across 45 states, serving over 50,000 patients daily with 11,000 colleagues and affiliated medical professionals.
Select Medical Holdings (NYSE: SEM) has completed the distribution of 104,093,503 shares (81.7%) of Concentra (NYSE: CON) common stock to its stockholders. The distribution occurred on November 25, 2024, with stockholders receiving 0.806971 Concentra shares for each Select Medical share held as of the November 18, 2024 record date. Following this spin-off, Select Medical no longer holds any Concentra shares. J.P. Morgan and Goldman Sachs served as financial advisors for the distribution.
Select Medical Holdings (NYSE: SEM) has announced the distribution ratio for its special stock distribution of Concentra Group Holdings Parent equity to stockholders. Shareholders will receive 0.806971 shares of Concentra's common stock for each Select Medical share held as of November 18, 2024 (Record Date). The distribution will occur on November 25, 2024, with cash provided in lieu of fractional shares. The distribution is intended to be tax-free for U.S. federal income tax purposes. J.P. Morgan and Goldman Sachs are serving as financial advisors, while Dechert LLP is acting as legal advisor for the distribution.
Select Medical Holdings (NYSE: SEM) announced that its subsidiary, Select Medical , has priced a $550.0 million private offering of 6.250% senior notes due 2032. The offering is expected to close on December 3, 2024. The notes will be senior unsecured obligations guaranteed by certain domestic subsidiaries.
The company plans to use the proceeds, along with a new incremental term loan and cash on hand, to repay existing term loans, redeem outstanding 6.250% senior notes due 2026, and cover related fees. The notes will be offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
Select Medical Holdings (NYSE: SEM) announced that Select Medical has initiated a private offering of $850 million in senior notes due 2032. The company plans to amend its existing senior secured credit agreement to establish a new incremental term loan and extend its revolving credit facility maturity. The proceeds will be used to repay existing term loans, redeem all outstanding 6.250% senior notes due 2026, and cover related fees. The notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
Select Medical Holdings has announced a special stock distribution of its Concentra holdings to shareholders. The distribution will occur on November 25, 2024, with a record date of November 18, 2024. Stockholders will receive approximately 0.806971 shares of Concentra's common stock (NYSE: CON) for each share of Select Medical stock held. The distribution represents about 81.7% of Concentra's outstanding shares, totaling 104,093,503 shares. The transaction is intended to be tax-free for U.S. federal income tax purposes, and no stockholder action is required. Cash will be provided in lieu of fractional shares.
Select Medical Holdings (NYSE: SEM) reported strong Q3 2024 financial results with significant growth across key metrics. Revenue increased 5.7% to $1,761.2 million, while net income rose 33.2% to $81.0 million. The company saw improved performance across all segments, with notable growth in rehabilitation hospitals (14.4% revenue increase) and outpatient rehabilitation (6.9% revenue increase).
The company declared a cash dividend of $0.125 per share, payable around November 26, 2024, to stockholders of record as of November 13, 2024. Additionally, Select Medical updated its 2024 outlook, projecting revenue between $6.95-7.15 billion and Adjusted EBITDA of $865.0-885.0 million.
Select Medical and SSM Health have announced a joint venture partnership to operate a 50-bed inpatient rehabilitation hospital in Oklahoma City, named SSM Health Rehabilitation Hospital – Oklahoma City. The facility, set to open in December 2024, will be located at 700 NW 7th Street and incorporate SSM Health's existing 12-bed acute rehabilitation unit from St. Anthony Hospital.
This partnership expands on a 15-year collaboration between Select Medical and SSM Health in the St. Louis region, where they jointly operate three inpatient rehabilitation hospitals, 79 outpatient physical therapy centers, and 10 rehabilitation day institutes. Select Medical will serve as the majority owner and managing partner of the new joint venture in Oklahoma City.
Select Medical Holdings (NYSE: SEM) has announced it will release its third quarter 2024 financial results on Thursday, October 31, 2024, after market close. The company will host a conference call and live webcast to discuss the results and business outlook on Friday, November 1, 2024, at 9:00am ET. Investors can access the webcast through the company's website or a provided link, with a replay available shortly after the call.
As of June 30, 2024, Select Medical operates 107 critical illness recovery hospitals in 28 states, 33 rehabilitation hospitals in 12 states, 1,925 outpatient rehabilitation clinics in 39 states and D.C., 547 occupational health centers in 41 states, and 154 onsite clinics at employer worksites. The company has a presence in 46 states and the District of Columbia.
Select Medical has announced a definitive agreement to acquire Valir Rehabilitation Hospital, a 50-bed inpatient rehabilitation facility in Oklahoma City, from Valir Health. The financial terms were not disclosed. This acquisition will expand Select Medical's presence in Oklahoma City, where it already operates a critical illness recovery hospital and 29 outpatient centers statewide.
Tom Mullin, president of Select Medical, emphasized the company's commitment to providing a full continuum of care for patients throughout their recovery journey. The acquisition aligns with Select Medical's strategy to meet the growing demand for inpatient rehabilitative care in the Oklahoma City area.