Select Medical - SEM STOCK NEWS

Select Medical reported a 7.8% year-over-year revenue increase to $1.534 billion for Q3 2021, while net income declined to $100.2 million from $104.5 million in Q3 2020. Adjusted EBITDA was $208.6 million, slightly down from $213.2 million in the prior year. The company declared a $0.125 cash dividend, payable on November 29, 2021. For the nine months ended September 30, 2021, revenue rose 14.1% to $4.645 billion, with net income up 78.9% to $433.6 million. Select Medical also increased its stock repurchase program to $1 billion.

Select Medical Holdings Corporation (NYSE: SEM) announced the appointment of Dr. Parvinderjit Singh Khanuja to its Board of Directors, effective November 1, 2021. Dr. Khanuja, with over 30 years of experience in medical oncology, is the founder of Ironwood Physicians, the largest cancer treatment center in Phoenix, AZ. His term will expire at the 2023 Annual Meeting of Stockholders. The Executive Chairman, Robert A. Ortenzio, expressed confidence that Dr. Khanuja will provide invaluable insights to the Board, enhancing strategic direction for the company.

Select Medical Holdings Corporation (NYSE: SEM) will release its third-quarter financial results for the period ending September 30, 2021, on November 4, 2021, after market closure. A conference call will follow on November 5, 2021, at 9:00 am ET, where management will discuss results and future outlook. The conference call can be accessed by dialing 1-866-440-2669 domestically or 1-409-220-9844 internationally, using conference ID 2359393. They operate critical care hospitals, rehabilitation facilities, and outpatient clinics across the U.S., with significant presence in 46 states as of September 30, 2021.

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.