---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-022577"
form_type: "8-K"
ticker: "SEM"
cik: "0001320414"
company_name: "SELECT MEDICAL HOLDINGS CORP"
filed_at: "2026-03-03T23:59:59+00:00"
generated_at: "2026-05-15T22:02:13.013072+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Select Medical to be acquired by consortium led by Ortenzio, Jackson, WCAS for $16.50/share

## Summary
- Enterprise value of $3.9B; Merger Consideration of $16.50 per share in cash.
- Premium of ~18% over unaffected price (Nov 24, 2025) and ~25% over 90-day VWAP.
- Ortenzio, Jackson and certain affiliates rolling over ~11.8% equity stakes; will vote in favor.
- Closing expected mid-2026, subject to stockholder approval, HSR, and regulatory clearances.
- Company termination fee $66.5M; Parent termination fee $133.0M.

## SEC filing metadata
- accession: 0001104659-26-022577
- form_type: 8-K
- ticker: SEM
- cik: 0001320414
- company_name: SELECT MEDICAL HOLDINGS CORP
- filed_at: 2026-03-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1320414/000110465926022577/0001104659-26-022577-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1320414/000110465926022577/tm267827d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-022577
- JSON: https://secwatch.observer/filing/0001104659-26-022577.json
- Plain text: https://secwatch.observer/filing/0001104659-26-022577.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.