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 Holdings Corporation (NYSE: SEM) will release its financial results for the fourth quarter and full year ended December 31, 2022, on February 23, 2023, after market close. A conference call to discuss these results and the company's business outlook is scheduled for February 24, 2023, at 9:00 AM ET. The call will be available via live webcast on the company's website, with a replay accessible afterward. Select Medical operates one of the largest networks of critical illness recovery and rehabilitation facilities in the U.S., with 103 critical illness recovery hospitals and 1,928 outpatient rehabilitation clinics across 46 states and the District of Columbia.
Select Medical and OhioHealth have expanded their joint venture by acquiring the operating assets of Reunion Rehabilitation Hospital in Dublin, OH. This acquisition will enhance their rehabilitation services and the new facility will feature 40 private rooms and cutting-edge rehabilitation technology. Additionally, a new 12-bed Neuro Transitional Center will be constructed in Dublin, marking the region's first facility of its kind, set to open in spring 2024. The partnership aims to meet the growing healthcare needs in Central Ohio, providing essential care for patients recovering from severe injuries and medical conditions.
Select Medical reported a 2.2% increase in revenue to $1,567.8 million for Q3 2022, compared to $1,534.2 million in Q3 2021. However, income from operations significantly decreased to $91.5 million from $150.3 million. Net income fell to $38.1 million compared to $100.2 million the previous year. The company declared a $0.125 cash dividend payable on November 29, 2022. Select Medical's 2022 revenue outlook remains between $6.25 billion and $6.40 billion.
Select Medical Holdings Corporation (NYSE: SEM) will announce its third-quarter financial results for the period ending September 30, 2022, on November 3, 2022, post-market close. A conference call to discuss these results, along with the company's business outlook, is scheduled for November 4, 2022, at 9:00 AM ET. The call will be available via live webcast on Select Medical's website. As of September 30, 2022, Select Medical operates numerous health facilities across the United States, highlighting its extensive presence in the healthcare industry.
Select Medical plans to open a third inpatient rehabilitation hospital in Central Pennsylvania to meet the rising demand in the West Shore region. In partnership with UPMC, the new facility will include 35 private rooms and advanced rehabilitation equipment, targeting patients recovering from various conditions. Set to open in 2023, renovations will take place at an existing building on UPMC's West Shore Campus. Currently, Select Medical operates two other rehabilitation hospitals in Central Pennsylvania through joint ventures, showcasing its extensive reach in critical illness recovery services.
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Select Medical Holdings Corporation (NYSE: SEM) reported a 1.3% increase in revenue to $1,584.7 million for Q2 2022, but a substantial decline in income from operations, down to $121.0 million from $284.0 million year-over-year. Net income fell to $66.3 million from $196.2 million in the same quarter last year. A cash dividend of $0.125 per share was declared, payable on September 2, 2022. Select Medical reaffirmed its 2022 revenue outlook of $6.25 billion to $6.40 billion.
Select Medical announced that four of its inpatient rehabilitation hospitals have been recognized as the best in the U.S. for 2022-2023 by U.S. News & World Report. The Kessler Institute for Rehabilitation in New Jersey secured the No. 4 position, marking its 30th consecutive year on the list. Other honorees include Baylor Scott & White Institute, Emory Rehabilitation Hospital, and OhioHealth Rehabilitation Hospital. This recognition highlights Select Medical's commitment to clinical excellence and quality patient care.
Select Medical Holdings Corporation (NYSE: SEM) will announce its second quarter financial results for the period ending June 30, 2022, on August 4, 2022, after market close. A conference call discussing these results and the company's business outlook is scheduled for August 5, 2022, at 9:00 AM ET, accessible via their website. As of June 30, 2022, the company operates 105 critical illness recovery hospitals, 31 rehabilitation hospitals, and 1,920 outpatient rehabilitation clinics across several states, making it one of the largest operators in its field.
Select Medical Corporation and Inova Health System have announced a partnership to establish the first critical illness recovery hospital in Northern Virginia. This 32-bed facility, set to open in the first half of 2023 within Inova Mount Vernon Hospital, aims to provide essential post-acute care for patients recovering from serious illnesses. By integrating services from all five Inova hospitals, the new hospital will improve patient transitions and long-term outcomes, fulfilling a critical healthcare need in the region.