Select Medical completes go-private acquisition by consortium at $16.50/share (~$3.9B enterprise)

SELECT MEDICAL HOLDINGS CORP

Consortium led by Ortenzio, Jackson, and WCAS acquires Select Medical for $16.50/share cash; equity ~$1.7B, enterprise ~$3.9B.
Stock delisted from NYSE effective July 1, 2026; company becomes private subsidiary of Parent.
Board replaced: William Frist, Daniel Thomas, Katherine Davisson, et al. depart; new directors: Russell Carson, David Chernow, Robert Ortenzio.
Entered $1B incremental term loan amendment to Select Credit Agreement to help finance the transaction.
Premium of ~18% over unaffected close (Nov 24, 2025) and ~25% over 90-day VWAP; stockholder vote approved June 26, 2026.

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