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 has announced a partnership with the PPA Tour, becoming the "Official Physical Therapy Partner" starting January 2022. This collaboration aims to enhance the physical health of pickleball players across the U.S. Select Medical operates over 1,800 centers in 39 states, providing extensive sports rehabilitation services. The 2022 PPA Tour will feature 20 tournaments, with Select Medical's professionals on-site to aid athletes. The partnership aligns with the growing popularity of pickleball, which has a diverse player demographic.
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.
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