SEM News & Events

Select Medical announced the completion of its acquisition by an entity affiliated with a consortium led by Robert Ortenzio, Executive Chairman, Co-Founder and Director of Select Medical, Martin Jackson, Senior Executive Vice President of Strategic Finance and Operations of Select Medical, and Welsh, Carson, Anderson & Stowe, pursuant to the terms of the Agreement and Plan of Merger, dated as of March 2. The company filed a Certificate of Merger, pursuant to which the acquisition will become effective as of July 1 at 12:01 am. With the completion of the acquisition, Select Medical's common stock will cease trading and Select Medical will no longer be listed on the New York Stock Exchange as of July 1. The Consortium maintains effective and operational control of the company and its subsidiaries and now has a majority of the economic interest in the company.

Select Medical Holdings is being acquired in a deal expected to be completed soon, pending final closing conditions.

Select Medical and Carilion Clinic have entered into a joint venture partnership to build and operate a new 50-bed inpatient rehabilitation hospital in Roanoke, Virginia. Select Medical will serve as the majority owner and manager of Carilion Rehabilitation Hospital. The joint venture agreement contemplates constructing a new 50-bed state-of-the-art hospital located at 9th Street, SE, in Roanoke. Construction will begin in spring 2026 with a targeted opening in spring/summer 2028. Upon the new hospital's opening, Carilion Roanoke Community Hospital will cease operation of its existing 34-bed acute rehabilitation unit.