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) 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.
HonorHealth Rehabilitation Hospital, a partnership between Select Medical and HonorHealth, has received CARF accreditation and specialty certifications for its stroke, brain injury, and amputation programs. This three-year accreditation signifies the highest standard for rehabilitation facilities, ensuring quality patient care and services. Achieved through a virtual peer review process due to COVID-19, the accreditation highlights the hospital's commitment to excellence in patient satisfaction and outcomes. Scott Keen, the CEO, emphasized the significance of this achievement for the community and staff.
Select Medical Holdings Corporation (NYSE: SEM) will announce its third-quarter financial results for 2020 on October 29, 2020, post-market. A conference call to discuss these results, along with the COVID-19 pandemic's impact on its reporting segments, is scheduled for October 30, 2020, at 9:00 AM ET. Select Medical, a major operator in healthcare, has 101 critical illness recovery hospitals and 1,757 outpatient rehabilitation clinics across the U.S. It also operates 522 occupational health centers through its subsidiary Concentra.
Select Medical Corporation announced a joint venture with Rush University System for Health to manage a critical illness recovery hospital, an inpatient rehabilitation hospital, and 63 physical therapy centers in the Chicago and Northwest Indiana area. Select Medical will be the majority owner and managing partner. The agreement includes the construction of an 84-bed facility, Rush Specialty Hospital, expected to open in 2022. This partnership aims to enhance post-acute care services, particularly following the COVID-19 pandemic, improving recovery paths for patients with critical illnesses.
Select Medical reported second-quarter net revenues of $1,232.7 million, down from $1,361.4 million year-over-year. Income from operations decreased slightly to $119.5 million, while net income rose 12.5% to $67.5 million. The Provider Relief Fund contributed $55 million in operating income due to COVID-19 impacts. Adjusted EBITDA was $178.8 million, down from $186.2 million a year ago. Earnings per share improved to $0.39, up from $0.33. The company continues to navigate operational challenges amid the pandemic.
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