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 reported a 2.2% increase in revenue to $1,567.8 million for Q3 2022, compared to $1,534.2 million in Q3 2021. However, income from operations significantly decreased to $91.5 million from $150.3 million. Net income fell to $38.1 million compared to $100.2 million the previous year. The company declared a $0.125 cash dividend payable on November 29, 2022. Select Medical's 2022 revenue outlook remains between $6.25 billion and $6.40 billion.
Select Medical Holdings Corporation (NYSE: SEM) will announce its third-quarter financial results for the period ending September 30, 2022, on November 3, 2022, post-market close. A conference call to discuss these results, along with the company's business outlook, is scheduled for November 4, 2022, at 9:00 AM ET. The call will be available via live webcast on Select Medical's website. As of September 30, 2022, Select Medical operates numerous health facilities across the United States, highlighting its extensive presence in the healthcare industry.
Select Medical plans to open a third inpatient rehabilitation hospital in Central Pennsylvania to meet the rising demand in the West Shore region. In partnership with UPMC, the new facility will include 35 private rooms and advanced rehabilitation equipment, targeting patients recovering from various conditions. Set to open in 2023, renovations will take place at an existing building on UPMC's West Shore Campus. Currently, Select Medical operates two other rehabilitation hospitals in Central Pennsylvania through joint ventures, showcasing its extensive reach in critical illness recovery services.
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.
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