Select Medical, Scripps Health and UC San Diego Health Enter Joint Venture Partnership

Rhea-AI Summary

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.

Positive

• Formation of a joint venture to enhance critical illness recovery services in San Diego.
• Extends existing partnership from 2018, indicating a strong collaborative relationship.
• Select Medical retains majority ownership of the 110-bed facility, ensuring continued management and operational control.

Negative

• None.

MECHANICBURG, Pa. and SAN DIEGO, June 21, 2021 /PRNewswire/ -- Select Medical, Scripps Health and UC San Diego Health today announced they have entered a joint venture partnership to serve the unmet post-acute critical illness recovery care needs of San Diego and surrounding communities.  For Select Medical and UC San Diego Health, the agreement is an extension of an existing joint venture formed in 2018.

As part of the deal, Scripps Health and UC San Diego Health both purchased interests in Select Medical's existing critical illness recovery hospital, Select Specialty Hospital – San Diego, which is licensed as long-term acute care.  Select Medical will retain majority ownership and management of the 110-bed facility. 

"Since opening Select Specialty Hospital – San Diego in 2019, there has been a steady increase in the need for specialty care among the region's aging population facing chronic, critical illness," said Tom Mullin, executive vice president and chief operating officer of specialty hospitals at Select Medical.  "We look forward to partnering with Scripps Health, as well as expanding our relationship with UC San Diego Health, to continue providing world-class post-acute care to Southern California."  

"We are pleased to join with Select Medical in our efforts to meet our patients' needs," said Richard Neale, corporate executive vice president/chief growth officer for Scripps Health. "It's part of Scripps' mission to collaborate to deliver the continuum of care that improves the health of our community. Partnering with the others in this venture helps us fulfill that mission."

"The expansion of this joint venture is an example of how our community of hospitals can collaborate to care for our most vulnerable patients," said Patty Maysent, chief executive officer, UC San Diego Health. "With the comprehensive resources and clinical expertise of Select Medical and its partners across the region, we will have better transitions of care for all patients recovering from critical illness."

About Scripps Health
Founded in 1924 by philanthropist Ellen Browning Scripps, Scripps Health is a nonprofit integrated health care delivery system based in San Diego, Calif. Scripps treats more than 600,000 patients annually through the dedication of 3,000 affiliated physicians and more than 15,000 employees among its five acute-care hospital campuses, home health care services, 28 outpatient centers and clinics, and hundreds of affiliated physician offices throughout the region.

Recognized as a leader in disease and injury prevention, diagnosis and treatment, Scripps is also at the forefront of clinical research. With three highly respected graduate medical education programs, Scripps is a longstanding member of the Association of American Medical Colleges. Scripps has been ranked five times as one of the nation's best health care systems by Truven Health Analytics. Its hospitals are ranked No. 1 in San Diego County and among the best in the nation by U.S. News & World Report. Scripps also is recognized by Advisory Board, Fortune and Working Mother magazine as one of the best places in the nation to work. More information can be found at www.scripps.org.

About UC San Diego Health
As the region's only academic health system, UC San Diego Health is dedicated to delivering outstanding patient care through commitment to the community, groundbreaking research and inspired teaching. UC San Diego Health includes UC San Diego Medical Center in Hillcrest and Jacobs Medical Center, Moores Cancer Center, Shiley Eye Institute, Sulpizio Cardiovascular Center and Altman Clinical and Translational Research Institute, all in La Jolla, as well as other primary and specialty practices located throughout Southern California. For more information, visit www.health.ucsd.edu.

About Select Medical
Select Medical is one of the largest operators of critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics and occupational health centers in the United States. As of March 31, 2021, Select Medical operated 99 critical illness recovery hospitals in 28 states, 30 rehabilitation hospitals in 12 states, and 1,809 outpatient rehabilitation clinics in 37 states and the District of Columbia. Select Medical's joint venture subsidiary Concentra operated 519 occupational health centers in 41 states. At March 31, 2021, Select Medical had combined operations in 46 states and the District of Columbia and employed more than 48,000 people.  For more information, visit www.selectmedical.com.

Media Contact
Select Medical: Shelly Eckenroth, 717-920-4035 or seckenroth@selectmedical.com

View original content:http://www.prnewswire.com/news-releases/select-medical-scripps-health-and-uc-san-diego-health-enter-joint-venture-partnership-301315873.html

SOURCE Select Medical Corporation

FAQ

What is the recent joint venture partnership involving SEM?

Select Medical (SEM), Scripps Health, and UC San Diego Health have formed a joint venture to improve post-acute critical illness recovery care in San Diego.

When was the joint venture between SEM, Scripps Health, and UC San Diego Health announced?

The joint venture was announced on June 21, 2021.

What facility is involved in the joint venture with SEM?

The joint venture involves Select Specialty Hospital – San Diego, which is a long-term acute care facility.

What are the implications of the joint venture for Select Medical (SEM) shareholders?

The joint venture is expected to enhance service offerings and address the growing demands in critical illness recovery care, potentially benefiting SEM's market position.