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 and ShorePoint Health Venice announced a joint venture to operate a critical illness recovery and inpatient rehabilitation hospital in Venice, Florida. The new facility, branded Select Specialty Hospital – Venice, will feature 25 critical illness recovery beds and 28 inpatient rehabilitation beds. Renovations are set to begin this summer, with an anticipated opening in Q1 2023. This partnership aims to enhance specialty care for high acuity patients in the region and expands Select Medical’s presence in Florida, where it currently operates 12 critical illness recovery hospitals and 2 rehabilitation hospitals.
On May 5, 2022, Select Medical Holdings Corporation (NYSE: SEM) reported a 3.4% increase in revenue to $1,599.5 million for Q1 2022, while net income fell to $55.9 million from $137.2 million year-over-year. Income from operations decreased to $104 million, influenced by the prior year's CARES Act payments. The company declared a cash dividend of $0.125 per share, payable June 1, 2022. Select Medical reaffirmed its 2022 revenue outlook of $6.25 billion to $6.40 billion and plans to continue stock repurchases, having bought back 2.1 million shares at $51.7 million in Q1.
Select Medical announced plans to open a new 31-bed critical illness recovery hospital branded as Select Specialty Hospital – Oregon in early 2023. This facility will be located at Mercy Health - St. Charles Hospital in Ohio and will serve as a satellite of the existing Regency Hospital Toledo, which will be renamed Select Specialty Hospital – Toledo. With this expansion, Select Medical aims to enhance access to specialized post-acute care for patients in northern Ohio, providing a combined capacity of 76 beds in the region.
Select Medical Holdings Corporation (NYSE: SEM) is set to release its first-quarter financial results on May 5, 2022, after market close. A conference call to discuss these results and the company's outlook will take place on May 6, 2022, at 9:00 am ET. Select Medical operates a substantial network of healthcare facilities, including 104 critical illness recovery hospitals and 1,881 outpatient rehabilitation clinics as of December 31, 2021. For more information, visit www.selectmedical.com.
Select Medical Holdings Corporation (SEM) announced its Q4 and full year 2021 results, reporting a 6.8% revenue increase to $1.56 billion in Q4 and a 12.2% increase to $6.20 billion for the year. However, income from operations declined to $77.5 million in Q4 from $163.3 million a year prior, with net income falling from $102.2 million to $66.3 million. Adjusted EBITDA also decreased to $138.4 million in Q4, compared to $221.3 million a year earlier. The board declared a cash dividend of $0.125 per share, payable on March 16, 2022.
Select Medical Holdings Corporation (NYSE: SEM) announced estimated results for the year ending December 31, 2021, projecting net operating revenue around $6,204 million and Adjusted EBITDA at approximately $947 million. Earnings per share are expected to be between $2.90 and $2.92. The company faced significant labor cost increases in its critical illness recovery segment, impacting financial results adversely. Actual results will be disclosed on February 24, 2022, with a conference call scheduled for February 25, 2022, to discuss these results and future outlook.
Select Medical has announced a partnership with the PPA Tour, becoming the "Official Physical Therapy Partner" starting January 2022. This collaboration aims to enhance the physical health of pickleball players across the U.S. Select Medical operates over 1,800 centers in 39 states, providing extensive sports rehabilitation services. The 2022 PPA Tour will feature 20 tournaments, with Select Medical's professionals on-site to aid athletes. The partnership aligns with the growing popularity of pickleball, which has a diverse player demographic.
Select Medical reported a 7.8% year-over-year revenue increase to $1.534 billion for Q3 2021, while net income declined to $100.2 million from $104.5 million in Q3 2020. Adjusted EBITDA was $208.6 million, slightly down from $213.2 million in the prior year. The company declared a $0.125 cash dividend, payable on November 29, 2021. For the nine months ended September 30, 2021, revenue rose 14.1% to $4.645 billion, with net income up 78.9% to $433.6 million. Select Medical also increased its stock repurchase program to $1 billion.
Select Medical Holdings Corporation (NYSE: SEM) announced the appointment of Dr. Parvinderjit Singh Khanuja to its Board of Directors, effective November 1, 2021. Dr. Khanuja, with over 30 years of experience in medical oncology, is the founder of Ironwood Physicians, the largest cancer treatment center in Phoenix, AZ. His term will expire at the 2023 Annual Meeting of Stockholders. The Executive Chairman, Robert A. Ortenzio, expressed confidence that Dr. Khanuja will provide invaluable insights to the Board, enhancing strategic direction for the company.
Select Medical Holdings Corporation (NYSE: SEM) will release its third-quarter financial results for the period ending September 30, 2021, on November 4, 2021, after market closure. A conference call will follow on November 5, 2021, at 9:00 am ET, where management will discuss results and future outlook. The conference call can be accessed by dialing 1-866-440-2669 domestically or 1-409-220-9844 internationally, using conference ID 2359393. They operate critical care hospitals, rehabilitation facilities, and outpatient clinics across the U.S., with significant presence in 46 states as of September 30, 2021.