Highest-materiality recent filing
Select Medical Q1 EPS $0.35 vs $0.44; revenue +5% to $1.42B; merger on track
Revenue $1,421.5M +5.0% YoY; net income $63.8M vs $74.7M; diluted EPS $0.35 vs $0.44.
Select Medical shareholders approve board declassification, special meeting at 25% threshold
Three Class II directors elected with >98% support; say-on-pay approved with 97% of votes cast.
Select Medical to be acquired by consortium led by Ortenzio, Jackson, WCAS for $16.50/share
Enterprise value of $3.9B; Merger Consideration of $16.50 per share in cash.
Select Medical reports Q4 growth, 2026 outlook; Ortenzio take-private bid under review
Q4 revenue $1,396.6M (+6.4%), net income $37.7M, diluted EPS $0.16 vs loss $0.19 YoY.
Select Medical enters new CEO employment agreement with Thomas Mullin effective Jan 1, 2026
1-year initial term, auto-renewing; base salary $700,000/year.
Select Medical receives take-private proposal from Executive Chairman at $16-$16.20/share
Non-binding proposal to acquire all outstanding shares for $16.00-$16.20 cash per share.
Select Medical Q3 revenue up 7.2% to $1.36B, EPS $0.23; raises FY25 EPS guidance
Q3 revenue $1,363.4M (+7.2% YoY); income from cont ops $44.2M (+7%); Adj EBITDA $111.7M (+7.5%).
Select Medical names Thomas P. Mullin CEO; David Chernow becomes Vice Chairman
Mullin, 41, promoted from Co-President, effective Sept 1, 2025; Chernow (CEO since 2014) becomes Vice Chairman.
Select Medical amends bylaws to tighten stockholder nomination rules under universal proxy
Board adopted Amended and Restated Bylaws on July 30, 2025.
Select Medical Q2 revenue +4.5% to $1.34B, EPS $0.32, reaffirms FY2025 outlook
Revenue $1,339.6M (+4.5% YoY); net income from continuing ops $57.9M (+53.8%).
Select Medical Q1 revenue up 2.4%, EPS rises 33% but core segment weakens; guidance lowered
Revenue $1,353.2M (+2.4% YoY); net income from cont. ops $74.7M (+21.5%); EPS $0.44 (+33.3%).
Select Medical shareholders approve director comp policy and eliminate supermajority voting
Stockholders approved a Non-Employee Director Compensation Policy with $18,000 quarterly cash retainer and $200,000 annual equity grant.
Select Medical Q4 revenue +7.8% to $1.31B, adjusted EPS +50%; issues 2025 outlook
Q4 revenue $1.31B (+7.8% YoY); loss from continuing ops $10.5M vs profit $30.3M (impacted by $45.9M stock comp acceleration and $17.9M debt retirement loss).
Net proceeds used to repay existing term loans and redeem all outstanding 6.250% Senior Notes due 2026.
Select Medical completes spin-off of Concentra, distributing 104M shares worth $2.3B
104,093,503 shares of Concentra (81.7% stake) distributed to Select stockholders as of Nov 18 record date.
Final ratio: 0.806971 shares of Concentra (CON) per SEM share; based on 128,992,850 SEM shares outstanding as of Record Date Nov 18.
Select Medical Corp prices $550M of 6.250% Senior Notes due 2032 to refinance existing debt
$550M aggregate principal of 6.250% Senior Notes due 2032 priced; closing expected Dec 3, 2024.
Select Medical Corporation plans $850M senior notes due 2032 in a private placement; notes guaranteed by certain domestic subsidiaries.
Select Medical spins off 81.7% Concentra stake via special stock distribution
Distribution of 104,093,503 Concentra shares (81.7% of CON) to SEM stockholders on Nov 25, 2024.
Select Medical Q3 revenue up 5.7% to $1.76B; net income +33.2%; dividend $0.125; FY guidance updated
Q3 revenue $1,761.2M (+5.7% YoY); net income $81.0M (+33.2%); adjusted EPS $0.50 (+8.7%).
Select Medical completes Concentra IPO of 22.5M shares at $23.50, retains ~82% stake
IPO of 22.5M shares of Concentra common stock at $23.50/share; net proceeds $499.7M.
Select Medical Q2 revenue up 5.1% to $1.76B, EPS $0.60; Concentra IPO raises $528.8M
Q2 rev $1,759.7M (+5.1% YoY), net income $94.8M (+3.2%), GAAP EPS $0.60 vs $0.61 prior.
Director Ortenzio resigns; CEO Chernow appointed to board
Rocco Ortenzio resigned as director effective August 1, 2024, with no disagreement with the company.
Select Medical subsidiary issues $650M 6.875% Senior Notes due 2032
$650M aggregate principal of 6.875% senior notes due July 15, 2032, issued by Concentra Escrow Issuer Corp.
Select Medical estimates Concentra Q2 rev $477.9M, op income $83.9M
Concentra net operating revenue ~$477.9M for Q2 2024; income from operations ~$83.9M.
Select Medical's Concentra subsidiary prices $650M of 6.875% senior notes due 2032
$650M aggregate principal of 6.875% senior notes due 2032 priced by Concentra Escrow Issuer.
Revenue $1,788.8M (+7.4% YoY); net income $117.2M (+37.4%); GAAP EPS $0.75 (+33.9%).
Shareholders approve expanded equity plan and officer exculpation at annual meeting
Shareholders approved amendment to 2020 Equity Incentive Plan, increasing share reserve to 5,925,000 shares and adding minimum one-year vesting.
On July 31, 2024, the Board of Directors (the “Board”) of the Company appointed David S. Chernow as a director of the Company, effective August 1, 2024, in order to fill the vacancy created by Mr. Ortenzio’s resignation.
Rocco A. Ortenzio, a director of Select Medical Holdings Corporation (the “Company”), notified the Company of his decision to resign as a director, effective August 1, 2024.
Max materiality 0.85 · Median 0.70 · Most common event earnings