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 has announced that 16 of its inpatient rehabilitation hospitals have been recognized in Newsweek's 2021 list of "America's Best Physical Rehab Centers." This accolade highlights the quality of care provided by these facilities across various states, including Georgia's Emory Rehabilitation Hospital ranked #1 and Florida's UF Health Rehab Hospital ranked #3. Select Medical operates a total of 99 critical illness recovery hospitals and 30 rehabilitation hospitals, reflecting its strong presence in the healthcare sector as of June 30, 2021.
Select Medical announced recognition for four of its rehabilitation hospitals for excellence in post-acute care. The Baylor Scott & White Institute in Dallas and Kessler Institute in West Orange achieved Model Systems designations for spinal cord injury, marking significant grants for both institutions. Additionally, four hospitals ranked in U.S. News & World Report's 'Best Hospitals' for rehabilitation: Kessler (#4), Baylor Scott & White (#14), Emory (#26), and OhioHealth (#34). These accolades emphasize Select Medical's commitment to high-quality patient care.
Select Medical Holdings Corporation (NYSE: SEM) reported a remarkable 26.9% revenue increase for Q2 2021, totaling $1,564.0 million, up from $1,232.7 million the previous year. Net income surged 190.7% to $196.2 million, with earnings per share rising to $1.22. The company declared a cash dividend of $0.125 per share, payable on August 30, 2021. Adjusted EBITDA also saw a significant rise of 91.3% to $342.0 million. For the full year 2021, Select Medical projects revenue between $5.85 billion and $6.05 billion.
Select Medical Holdings Corporation (NYSE: SEM) will release its second quarter financial results for the period ending June 30, 2021, on August 5, 2021, after market close. A conference call to discuss these results and the business outlook will be held on August 6, 2021, at 9:00 am ET. The company operates a wide network of healthcare facilities, including 99 critical illness recovery hospitals and 1,809 outpatient rehabilitation clinics across 46 states and the District of Columbia as of March 31, 2021.
A recent study by the CDC, in collaboration with Select Medical, highlighted the rehabilitation needs of post-COVID-19 patients. Analyzing data from 1,295 individuals, the research found that these patients reported worse physical health compared to a control group of cancer patients. Additionally, the post-COVID-19 patients exhibited decreased physical endurance. The findings suggest a need for tailored rehabilitation services to support the unique recovery journeys of the 33.5 million post-COVID-19 patients in the U.S. The CDC study validates Select Medical's Recovery and Reconditioning Program aimed at addressing these needs.
Select Medical, Scripps Health, and UC San Diego Health have announced a joint venture to enhance post-acute critical illness recovery care in San Diego. This venture builds on an existing partnership from 2018, with Scripps and UC San Diego acquiring stakes in Select Medical's long-term acute care facility, Select Specialty Hospital – San Diego. Select Medical will maintain majority ownership of the 110-bed hospital. Leaders from all three organizations emphasized the importance of collaboration in meeting the growing needs of the region's elderly population facing chronic illnesses.
Select Medical Corporation (NYSE: SEM) announced plans to operate seven new critical illness recovery hospitals and eight new outpatient clinics through acquisitions and joint ventures, subject to regulatory approval by Q3/Q4 2021. Key acquisitions include the acquisition of Acuity Healthcare, expanding its presence in New Jersey and West Virginia. New partnerships will enhance Select Medical's operational capacity, with an expected increase in patient reach and service offerings. The company serves 82,000 patients daily across its U.S. network, positioning itself for strategic growth.
Select Medical has signed a definitive agreement to acquire Acuity Healthcare, enhancing its presence in long-term acute care. This acquisition includes four hospitals and one satellite location in New Jersey and West Virginia, expanding Select Medical's network to 104 facilities. The deal also establishes joint venture partnerships with AtlantiCare, Mon Health, Virtua Health, and physician partners to improve specialty care for critically ill patients. The acquisition is expected to close in Q3 2021, pending regulatory approval.
Select Medical and Northwest Healthcare announced a joint venture to acquire Curahealth Tucson, a long-term acute care hospital, subject to regulatory approval. Expected to close in early Q3 2021, this partnership aims to enhance specialty care for high-acuity patients in Tucson and expand Select Medical's presence in Arizona. The hospital will be relocated in September 2021 and rebranded as Select Specialty Hospital – Tucson Northwest. This venture is intended to provide seamless patient care transitions within the Northwest Healthcare system to improve overall patient outcomes.
Select Medical has launched its ReVital Cancer Rehabilitation Program in Chicago, partnering with 14 RUSH Physical Therapy centers. This innovative program aims to assist cancer patients in managing treatment-related side effects, enhancing physical function, and improving quality of life. Research indicates that approximately 60% of cancer patients face functional issues post-treatment, with many suffering from pain and fatigue. ReVital-certified therapists, trained in oncology rehabilitation, focus on holistic recovery for patients battling cancer.