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Select Medical Holdings

Select Medical Holdings Corporation operates critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics in the United States through its subsidiaries. Its Critical Illness Recovery Hospital segment treats conditions such as heart failure, infectious disease, respiratory failure, pulmonary disease, surgery requiring prolonged recovery, renal disease, neurological events, and trauma. The Rehabilitation Hospital segment provides therapy and rehabilitation for brain and spinal cord injuries, strokes, amputations, neurological disorders, orthopedic conditions, pediatric congenital or acquired disabilities, and cancer. The Outpatient Rehabilitation segment offers physical, occupational, and speech rehabilitation programs, as well as specialized programs for work-related injuries, hand therapy, pelvic health, post-concussion rehabilitation, pediatric and cancer rehabilitation, and athletic training. The company was founded in 1996 and is headquartered in Mechanicsburg, Pennsylvania.

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Select Medical Holdings Acquired by Consortium Led by Ortenzio, Jackson, and WCAS

Select Medical Holdings Corporation has completed its acquisition by a consortium led by Executive Chairman Robert A. Ortenzio, Senior Executive Vice President Martin F. Jackson, and private equity firm Welsh, Carson, Anderson & Stowe. The all-cash deal values the company at approximately $3.9 billion, with shareholders receiving $16.50 per share, a premium of about 18% over the unaffected share price as of November 24, 2025. The acquisition will become effective on July 1, 2026, at which point Select Medical's common stock will cease trading on the New York Stock Exchange. The company's current officers, including Ortenzio and Jackson, will continue to lead the business. Stockholders approved the transaction at a special meeting on June 26, 2026.
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BFA Law Investigates Select Medical Board Over $16.50 Per Share Acquisition

Bleichmar Fonti & Auld LLP is investigating Select Medical Holdings Corporation's board and senior management for potential breaches of fiduciary duties related to the pending acquisition at $16.50 per share. The deal, announced on March 2, 2026, involves a consortium led by co-founder Robert A. Ortenzio, executive Martin F. Jackson, and private equity firm Welsh, Carson, Anderson & Stowe, which has ties to director Russel L. Carson. Public shareholders would receive $16.50 per share in cash, while Ortenzio, Jackson, and certain affiliates are permitted to roll over their holdings into the post-merger company, an option not available to other stockholders. The stockholder vote is scheduled for June 26, 2026, and the merger could close shortly thereafter, potentially limiting further investigation into its fairness.
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