SELECT MEDICAL HOLDINGS CORP - SEM STOCK NEWS

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.

Select Medical Holdings Corporation (NYSE: SEM) will announce its first quarter financial results for the period ending March 31, 2021, on May 6, 2021, after market close. A conference call will be held on May 7, 2021, at 9:00 AM ET to discuss these results and the company's outlook. The call can be accessed via a domestic number (1-866-440-2669) or an international number (1-409-220-9844), with a conference ID of 8189262. Select Medical operates numerous healthcare facilities across the United States, including critical illness recovery hospitals and outpatient rehabilitation clinics.

Select Medical Holdings Corporation (NYSE: SEM) reported robust financial results for the fourth quarter and year ended December 31, 2020. Revenue rose 6.2% to $1.46 billion in Q4, with net income up 134.1% to $102.2 million. The year saw total revenue increase by 1.4% to $5.53 billion, while net income surged 71.4% to $344.6 million. Key segments, especially critical illness recovery hospitals, saw significant growth, aided by Provider Relief Fund payments of $36.2 million in Q4. Adjusted EBITDA for the year reached $800.6 million, representing a 12.6% increase compared to 2019.

Select Medical Holdings Corporation (NYSE: SEM) will disclose its fourth quarter and full year financial results for 2020 on February 25, 2021, after market closure. A conference call addressing the financial outcomes and the COVID-19 pandemic impact on operations is scheduled for February 26, 2021, at 9:00am ET. Investors can access the call via domestic line 1-866-440-2669 or internationally at 1-409-220-9844. A replay will be available until March 5, 2021.

Select Medical Holdings Corporation (NYSE: SEM) reported a 2.2% increase in net operating revenues to $1,423.9 million for Q3 2020, with net income soaring 137.2% to $104.5 million. The company achieved a 27% rise in operating income to $156.1 million. Adjusted EBITDA grew by 16.7% to $213.2 million. Despite these gains, the outpatient rehabilitation segment saw a revenue decline of 9.5% to $240 million. For the nine months ending September 30, 2020, revenues totaled $4,071.2 million, slightly declining from $4,079.3 million in the previous year.