secwatch.observer — SEC 8-K summary
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Issuer:     SELECT MEDICAL HOLDINGS CORP (SEM)
CIK:        0001320414
Form:       8-K
Filed at:   2026-07-01T13:27:13+00:00
Accession:  0001104659-26-079643
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 2.03, 3.01, 3.03, 5.01, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320414/000110465926079643/0001104659-26-079643-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320414/000110465926079643/tm2619266d7_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-079643

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer