---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-079643"
form_type: "8-K"
ticker: "SEM"
cik: "0001320414"
company_name: "SELECT MEDICAL HOLDINGS CORP"
filed_at: "2026-07-01T13:27:13+00:00"
generated_at: "2026-07-01T13:28:14.842038+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-26-079643
- form_type: 8-K
- ticker: SEM
- cik: 0001320414
- company_name: SELECT MEDICAL HOLDINGS CORP
- filed_at: 2026-07-01T13:27:13+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 3.01, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1320414/000110465926079643/0001104659-26-079643-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1320414/000110465926079643/tm2619266d7_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-079643
- JSON: https://secwatch.observer/filing/0001104659-26-079643.json
- Plain text: https://secwatch.observer/filing/0001104659-26-079643.txt

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