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.
Overview
Select Medical Holdings Corporation (NYSE: SEM) is a prominent healthcare organization that provides a full continuum of care with a focus on critical illness recovery, rehabilitation, and occupational health services. With a proven track record of clinical quality and operational excellence, Select Medical has built a robust platform in the United States by offering specialized medical recovery solutions and health services. The organization is characterized by its diverse network of facilities and its commitment to delivering patient-first care.
Business Segments and Services
Select Medical operates through four key segments that define its comprehensive service offerings:
- Critical Illness Recovery Hospitals: These facilities cater to patients who have emerged from life-threatening conditions and require extended support to regain their health. They focus on advanced medical care and prolonged recovery services.
- Rehabilitation Hospitals: Designed for inpatient care, these hospitals offer specialized therapies and medical oversight to patients recovering from strokes, spinal cord injuries, brain injuries, orthopedic conditions, and other complex health events.
- Outpatient Rehabilitation Clinics: Through a large network of clinics, Select Medical provides accessible outpatient rehabilitation services encompassing physical therapy, occupational therapy, and specialized recovery programs.
- Occupational Health Centers (Concentra): Focused on workplace and direct-to-employer care, the Concentra segment provides preventive health screenings, injury care, and comprehensive occupational medicine services to support the health and productivity of the workforce.
Operational Excellence and Clinical Commitment
The company maintains its founding principles by emphasizing clinical quality and a patient-first philosophy. Every facility within the Select Medical network reflects the company's core values by striving for optimal patient outcomes and compassionate care. With a strong emphasis on operational efficiency, clinical partnerships, and continuous improvement, Select Medical ensures that every stage of the care journey—from the acute recovery phase to outpatient follow-up—is managed with precision and expertise.
Market Position and Competitive Landscape
In a competitive healthcare market, Select Medical distinguishes itself through its expansive network and integration of recovery and rehabilitation services. The combination of inpatient facilities and outpatient care centers allows Select Medical to offer a seamless continuum of services that meet the diverse needs of patients across the United States. The company's strategic focus on quality, safety, and outcomes underscores its position as a major player in the post-acute care sector. Furthermore, its dedicated approach to recruiting and training top healthcare professionals fortifies its reputation for exceptional care delivery.
Partnerships and Innovative Care Delivery
Select Medical has cultivated numerous joint ventures and partnerships with established healthcare institutions, enhancing its capacity to introduce innovative care models and specialized programs. For instance, collaborations with renowned medical centers underline the company's commitment to integrating advanced technologies and evidence-based practices into its clinical programs. These partnerships not only drive operational improvements but also pave the way for enhanced patient experiences and long-term health benefits.
Commitment to Quality and Community Impact
The foundation of Select Medical's operational strategy lies in its unwavering commitment to improving quality of life. The company’s patient-centric approach is evident in its comprehensive care programs, which are tailored to meet individual recovery needs and promote long-term wellness. Additionally, Select Medical’s extensive presence across multiple states and its continuous investment in clinical excellence underscore its dedication to serving communities and addressing the dynamic healthcare needs of a diverse patient population.
Conclusion
Overall, Select Medical Holdings Corporation exemplifies a robust healthcare model that integrates a variety of post-acute services across critical illness recovery, inpatient and outpatient rehabilitation, and occupational health. Its strategic organization, combined with an evergreen commitment to clinical quality, positions it as a vital component of the U.S. healthcare landscape. This detailed overview serves as a comprehensive resource that encapsulates the company's operational frameworks, industry expertise, and dedication to delivering quality care.
Select Medical and SSM Health have announced a joint venture partnership to operate a 50-bed inpatient rehabilitation hospital in Oklahoma City, named SSM Health Rehabilitation Hospital – Oklahoma City. The facility, set to open in December 2024, will be located at 700 NW 7th Street and incorporate SSM Health's existing 12-bed acute rehabilitation unit from St. Anthony Hospital.
This partnership expands on a 15-year collaboration between Select Medical and SSM Health in the St. Louis region, where they jointly operate three inpatient rehabilitation hospitals, 79 outpatient physical therapy centers, and 10 rehabilitation day institutes. Select Medical will serve as the majority owner and managing partner of the new joint venture in Oklahoma City.
Select Medical Holdings (NYSE: SEM) has announced it will release its third quarter 2024 financial results on Thursday, October 31, 2024, after market close. The company will host a conference call and live webcast to discuss the results and business outlook on Friday, November 1, 2024, at 9:00am ET. Investors can access the webcast through the company's website or a provided link, with a replay available shortly after the call.
As of June 30, 2024, Select Medical operates 107 critical illness recovery hospitals in 28 states, 33 rehabilitation hospitals in 12 states, 1,925 outpatient rehabilitation clinics in 39 states and D.C., 547 occupational health centers in 41 states, and 154 onsite clinics at employer worksites. The company has a presence in 46 states and the District of Columbia.
Select Medical has announced a definitive agreement to acquire Valir Rehabilitation Hospital, a 50-bed inpatient rehabilitation facility in Oklahoma City, from Valir Health. The financial terms were not disclosed. This acquisition will expand Select Medical's presence in Oklahoma City, where it already operates a critical illness recovery hospital and 29 outpatient centers statewide.
Tom Mullin, president of Select Medical, emphasized the company's commitment to providing a full continuum of care for patients throughout their recovery journey. The acquisition aligns with Select Medical's strategy to meet the growing demand for inpatient rehabilitative care in the Oklahoma City area.
Select Medical Holdings (NYSE: SEM) reported its Q2 2024 results, showing a 5.1% revenue increase to $1,759.7 million. Net income rose 3.2% to $94.8 million, while Adjusted EBITDA grew 3.1% to $226.3 million. Earnings per share remained steady at $0.60. The company's board declared a cash dividend of $0.125 per share, payable on August 30, 2024.
For the first half of 2024, revenue increased 6.3% to $3,548.5 million, with net income up 19.7% to $211.9 million. Select Medical operates 107 critical illness recovery hospitals, 33 rehabilitation hospitals, 1,925 outpatient rehabilitation clinics, and 547 occupational health centers across the United States.
The company also announced the successful IPO of its subsidiary, Concentra Group Holdings Parent, raising $528.8 million in gross proceeds.
Select Medical and Cedars-Sinai have launched a specialized spine care program in the Greater Los Angeles region. The program, offered at 11 Select Physical Therapy centers, aims to treat patients with acute or chronic spine conditions through evidence-based physical therapy. This initiative is part of a joint venture partnership established in 2021 between the two organizations.
The program focuses on conservative management through physical therapy, which can be effective for most patients with lower back pain. It aims to optimize patient function, reduce the need for surgical intervention, and decrease care costs by minimizing the use of opioids, diagnostic testing, and procedures. Patients receive tailored care plans aligned with best practices defined by leading medical authorities.
Select Medical Holdings (NYSE: SEM) announced the pricing of its subsidiary Concentra Group Holdings Parent, Inc.'s (NYSE: CON) initial public offering (IPO). Concentra is offering 22,500,000 shares at $23.50 per share, with an option for underwriters to purchase an additional 3,375,000 shares. Trading is expected to begin on July 25, 2024, under the symbol 'CON'. After the IPO, Select Medical will retain 82.23% ownership of Concentra (80.09% if the over-allotment option is fully exercised).
Concentra is the largest provider of occupational health services in the U.S., operating 547 occupational health centers in 41 states and 154 onsite health clinics at employer worksites in 37 states as of June 30, 2024. The company serves over 50,000 patients daily, offering occupational and consumer health services.
Select Medical Holdings (NYSE: SEM) has announced the launch of an IPO roadshow for its wholly owned subsidiary, Concentra Group Holdings Parent, Inc. The IPO aims to offer 22,500,000 shares of common stock, with an expected price range of $23.00 to $26.00 per share. Concentra plans to list on the NYSE under the symbol 'CON'.
Underwriters have a 30-day option to purchase up to 3,375,000 additional shares. Post-IPO, Select Medical will retain 82.23% ownership of Concentra (or 80.09% if the over-allotment option is fully exercised). The IPO is subject to market conditions and regulatory approval. J.P. Morgan, Goldman Sachs & Co. , and BofA Securities are leading the offering as book-running managers.
Select Medical Holdings (NYSE: SEM) announced preliminary financial results for its subsidiary, Concentra Group Holdings Parent, Inc., for Q2 2024.
Concentra's net operating revenue is estimated at $477.9 million, while income from operations is expected to be around $83.9 million. These figures are management estimates based on current information and may change after final financial reviews.
Select Medical will release its full Q2 results on August 1, 2024, after market close and will host a conference call on August 2, 2024, at 9:00am ET.
Select Medical operates numerous facilities across the U.S., including critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers.
On July 10, 2024, Select Medical and UPMC announced the opening of the Helen M. Simpson Rehabilitation Hospital - West Shore in Q2 2025, a satellite acute inpatient rehabilitation hospital in Mechanicsburg, Pennsylvania. This 20-bed facility will address the growing demand for specialized rehabilitative care in the Central Pennsylvania West Shore region, offering advanced therapies for stroke, spinal cord and brain injuries, amputations, neurological disorders, and orthopedic conditions.
Located on the newly renovated fifth floor of UPMC West Shore, a 166-bed acute care hospital, the new facility aims to improve patient transition and continuity of care, leveraging Select Medical's rehabilitation expertise within UPMC's comprehensive healthcare services. This joint venture underscores the commitment to delivering world-class care and meeting regional healthcare needs.
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.
FAQ
What is the current stock price of Select Medical (SEM)?
What is the market cap of Select Medical (SEM)?
What are the main business segments of Select Medical?
How does Select Medical deliver its healthcare services?
What distinguishes Select Medical’s approach to patient care?
How extensive is Select Medical's network?
What role does the Concentra segment play within the company?
How does Select Medical ensure operational excellence?
What types of recovery services does Select Medical provide?
How does Select Medical's structure benefit the community?
