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.
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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.
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.