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 Corporation (NYSE: SEM) will release its financial results for Q1 2023 on May 4, 2023, after market close. A conference call discussing these results and the company's business outlook is scheduled for May 5, 2023, at 9:00 AM ET. Investors can access the call via Select Medical's website or dial in after pre-registering. The company is a leading operator of critical illness recovery hospitals, rehabilitation hospitals, outpatient clinics, and occupational health centers in the U.S., operating 103 critical illness recovery hospitals and over 1,900 outpatient rehabilitation clinics as of December 31, 2022. For more information, visit Select Medical's official website.
Select Medical has announced the acquisition of Vibra Hospital of Richmond, a long-term acute care facility in Virginia. The financial terms of the agreement have not been disclosed. The 63-bed hospital will be rebranded as Select Specialty Hospital – Richmond, focusing on post-ICU care for critically ill patients. This acquisition will enhance Select Medical's care continuum in Virginia, joining existing facilities and outpatient centers in the state. As of December 31, 2022, Select Medical operated 103 critical illness recovery hospitals across 28 states, further establishing its position in the healthcare industry.
Select Medical announced plans to build a new 63-bed specialty hospital in Orlando, Florida, focusing on critical illness recovery and inpatient rehabilitation. The facility is expected to open in late 2024 and will cater to patients recovering from chronic, complex conditions and injuries, addressing a growing demand for post-ICU care in the region. With Florida's rapidly growing population and a significant percentage over 65 years old, the new hospital aims to enhance access to quality post-acute care. Currently, Select Medical operates two critical illness recovery hospitals in Orlando and multiple facilities across Florida.
Select Medical Corporation (NYSE:SEM) and Lutheran Health Network announced a joint venture to enhance inpatient rehabilitation and critical illness recovery care in Fort Wayne, Indiana. This collaboration will include the existing 36-bed Lutheran Health Network Rehabilitation Hospital and the construction of a new specialty hospital. Select Medical will be the majority owner and managing partner, marking its first rehabilitation hospital in Indiana. The initiative aims to improve care for patients recovering from severe illnesses and injuries, further expanding Select Medical's statewide post-acute care network.
Select Medical Holdings Corporation (NYSE: SEM) reported a 1.4% increase in Q4 revenue to $1,581.5 million and a 12.0% rise in operating income to $86.9 million. However, net income dropped to $37.7 million from $66.3 million year-over-year. For the full year, revenue rose 2.1% to $6,333.5 million, but operating income fell dramatically to $403.3 million from $713.8 million in 2021. Adjusted EBITDA for Q4 was $148.9 million, up 7.6%, while it totaled $646.9 million for the year, down from $947.4 million. A cash dividend of $0.125 per share was declared, payable on March 15, 2023. Revenue outlook for 2023 is projected between $6.5 billion and $6.7 billion.
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