Welcome to our dedicated page for SELECT MEDICAL HOLDINGS news (Ticker: SEM), a resource for investors and traders seeking the latest updates and insights on SELECT MEDICAL HOLDINGS stock.
Select Medical Holdings Corp. (NYSE: SEM) is a prominent healthcare provider in the United States, specializing in four key areas: long-term acute care, inpatient medical rehabilitation, outpatient physical therapy, and contract therapy. The company's extensive network is supported by nearly 40,000 dedicated professionals who are committed to delivering high-quality care across the nation.
Select Medical's operations are divided into four main segments:
- Critical Illness Recovery Hospitals: Designed for patients needing extended recovery time and specialized medical services, this segment includes 107 hospitals across 28 states.
- Rehabilitation Hospitals: These facilities focus on helping patients regain their strength and functionality, comprising 33 hospitals in 12 states.
- Outpatient Rehabilitation Clinics: With 1,933 clinics in 39 states and the District of Columbia, this segment provides physical therapy and rehabilitation services.
- Concentra: This segment includes 544 occupational health centers and 150 onsite clinics at employer worksites, offering services such as workers' compensation injury care, physical exams, and preventive care.
Despite its significant growth, Select Medical remains dedicated to its foundational principles of clinical quality and operational excellence. The company's vision emphasizes putting patients first, constantly seeking improvement, and attracting top talent to deliver the best possible care.
In recent developments, Select Medical has been actively engaged in strategic initiatives to enhance its operations and financial performance. The company has announced plans for the potential separation of its Concentra business, aiming to create two independent, publicly traded entities. This move is intended to increase shareholder value and allow each company to focus on its core strengths.
Financially, Select Medical reported an estimated net operating revenue of approximately $1.67 billion for the second quarter of 2023, with an Adjusted EBITDA of about $219 million. The company continues to demonstrate robust financial health, with approximately $100 million in cash and $3.75 billion in indebtedness as of June 30, 2023.
Looking ahead, Select Medical remains committed to expanding its footprint and enhancing the quality of care provided to its patients. The company regularly updates its stakeholders through earnings calls and press releases, ensuring transparency and engagement with its investor base.
Select Medical Holdings (NYSE: SEM) will announce its second-quarter 2024 financial results on Thursday, August 1, 2024, after market close.
A conference call to discuss these results and the company’s business outlook will be held on Friday, August 2, 2024, at 9:00 am ET. This call will be accessible through a live webcast available on Select Medical's website. A replay will be available shortly after.
Select Medical operates multiple segments, including critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers across the United States. As of March 31, 2024, the company had a presence in 46 states and the District of Columbia, operating a significant number of facilities in each segment.
Select Medical Holdings (NYSE: SEM) and Concentra Group Holdings Parent announced that Concentra Escrow Issuer has priced an offering of $650 million in senior notes due in 2032 at an interest rate of 6.875%.
This offering is part of Select's plan to separate from Concentra, its wholly-owned occupational health services business. Conditions include securing additional financing and merging Issuer with Concentra Health Services, Inc. (CHSI). Upon merging, CHSI will assume Issuer’s obligations under the notes.
The offering is set to close independently of the merger, which is expected in Q3 2024. Proceeds will be held in escrow until the merger completion. If the merger does not occur by September 30, 2024, the notes will be redeemed at 100% of their issue price plus accrued interest. Concentra plans to use $50 million from the offering for corporate purposes and the remainder to pay dividends to Select Medical These notes are available only to qualified institutional buyers and are not registered under the Securities Act.
Select Medical Holdings (NYSE: SEM) and Concentra Group Holdings Parent, Inc. announced the commencement of a $750 million senior notes offering by Concentra Escrow Issuer , a subsidiary of Concentra Health Services, Inc. The offering supports Select's plan to separate Concentra from its business.
The Issuer will merge with Concentra Health Services, Inc. Upon merger, Concentra and its subsidiaries will guarantee the notes. The proceeds, held in escrow, will be used for corporate purposes and dividends to Select Medical
If the merger isn't completed by September 30, 2024, the notes will be redeemed at 100% of their issue price, plus interest.
Select Medical Holdings announced strong financial results for the first quarter ended March 31, 2024. The company reported revenue growth of 7.4% to $1.788.8 million, with net income increasing by 37.4% to $117.2 million. Adjusted EBITDA also rose by 22.4% to $261.9 million. Select Medical operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers across the United States. The company declared a cash dividend of $0.125 per share and authorized a common stock repurchase program of up to $1.0 billion. Select Medical reaffirmed its 2024 business outlook, expecting revenue between $6.9 billion to $7.1 billion and adjusted earnings per share in the range of $1.96 to $2.20.
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