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) 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.
Select Medical Corporation (NYSE: SEM) announced plans to operate seven new critical illness recovery hospitals and eight new outpatient clinics through acquisitions and joint ventures, subject to regulatory approval by Q3/Q4 2021. Key acquisitions include the acquisition of Acuity Healthcare, expanding its presence in New Jersey and West Virginia. New partnerships will enhance Select Medical's operational capacity, with an expected increase in patient reach and service offerings. The company serves 82,000 patients daily across its U.S. network, positioning itself for strategic growth.
Select Medical has signed a definitive agreement to acquire Acuity Healthcare, enhancing its presence in long-term acute care. This acquisition includes four hospitals and one satellite location in New Jersey and West Virginia, expanding Select Medical's network to 104 facilities. The deal also establishes joint venture partnerships with AtlantiCare, Mon Health, Virtua Health, and physician partners to improve specialty care for critically ill patients. The acquisition is expected to close in Q3 2021, pending regulatory approval.
Select Medical and Northwest Healthcare announced a joint venture to acquire Curahealth Tucson, a long-term acute care hospital, subject to regulatory approval. Expected to close in early Q3 2021, this partnership aims to enhance specialty care for high-acuity patients in Tucson and expand Select Medical's presence in Arizona. The hospital will be relocated in September 2021 and rebranded as Select Specialty Hospital – Tucson Northwest. This venture is intended to provide seamless patient care transitions within the Northwest Healthcare system to improve overall patient outcomes.
Select Medical has launched its ReVital Cancer Rehabilitation Program in Chicago, partnering with 14 RUSH Physical Therapy centers. This innovative program aims to assist cancer patients in managing treatment-related side effects, enhancing physical function, and improving quality of life. Research indicates that approximately 60% of cancer patients face functional issues post-treatment, with many suffering from pain and fatigue. ReVital-certified therapists, trained in oncology rehabilitation, focus on holistic recovery for patients battling cancer.
Select Medical Holdings Corporation (NYSE: SEM) announced its first-quarter results for the period ending March 31, 2021. Revenue increased by 9.3% to $1.55 billion, with net income rising 94.8% to $137.2 million. The company declared a cash dividend of $0.125 per share, payable on June 1, 2021. Adjusted EBITDA grew by 37.9% to $258.3 million, and earnings per share improved to $0.82. Select Medical expects full-year revenue between $5.7 billion and $5.9 billion, and Adjusted EBITDA between $870 million and $900 million.
Select Medical Holdings Corporation (NYSE: SEM) has appointed Katherine R. Davisson to its Board of Directors, effective immediately. Her term will last until the 2022 Annual Meeting of Stockholders, where she will stand for re-election. Davisson boasts over 20 years of leadership experience in financial services, having worked at firms like Morgan Stanley and Goldman Sachs. She also has significant non-profit sector experience, including roles at the World Economic Forum. Her addition is expected to strengthen Select Medical's governance.
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