Select Medical

Select Medical is a healthcare company based in Pennsylvania. It owns long term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.

Select Medical
TypeLimited company
NYSE: SEM
S&P 600 Component
IndustryHealthcare
Founded1996 (1996)
HeadquartersMechanicsburg, Pennsylvania, United States
Key people
ProductsSpecialty healthcare services
Revenue $5.2 billion USD (2018)[1]
Number of employees
47,596[2] (2017)
Websitewww.selectmedical.com

History

The company is based in Mechanicsburg, Pennsylvania and was co-founded in 1996 by Rocco Ortenzio and Robert Ortenzio.[3][4]

In 2009, the company announced a joint venture with SSM Health Care.[4]

In December 2012, the company announced a partnership with Emory Healthcare.[5]

In 2013, David Chernow was appointed CEO while co-founders Robert and Rocco Ortenzio became chairman of the company.[3] In June, Select Medical acquired two inpatient rehabilitation facilities from GlobalRehab Management.[6] Also in 2013, Select Medical and OhioHealth Corp announced a joint venture and reopened the OhioHealth Rehabilitation Hospital in August 2013.[7] In December, the company announced a partnership with Cedars-Sinai and UCLA Health System to create the California Rehabilitation Institute.[8][9]

In March 2014, the company announced a joint venture with TriHealth to open the TriHealth Rehabilitation Hospital in Cincinnati.[10] In June, the company announced a joint venture with the Cleveland Clinic to operate a rehabilitation hospital in Avon, Ohio.[11] Also in June, the company announced a joint venture with PinnacleHealth System to co-own a rehabilitation hospital.[12]

In 2015, Select Medical completed its acquisition of Concentra, a national health care company.[13] Also in 2015, the company announced a partnership with Ochsner Health System.[14]

In February 2016, the company announced an agreement to swap hospitals with Kindred Healthcare.[15][16] In March, the company acquired Physiotherapy Associates Holdings.[16] In April, the company sold its Contract Therapy business to Encore Rehabilitation Services, a portfolio company of Revelstoke Capital Partners LLC.[16]

References
  1. "Select Medical 2015 Annual Report" (PDF).
  2. "Select Medical Holdings". Fortune. Retrieved January 15, 2019.
  3. Stauffer, Heather (December 23, 2013). "David Chernow to succeed Robert Ortenzio as Select Medical CEO". Central Penn Business Journal. Retrieved July 13, 2020.
  4. "SSM, Select Medical form joint venture". St. Louis Business Journal. December 8, 2009.
  5. "Emory Healthcare and Select Medical plan to partner in Georgia". Emory University. December 13, 2012. Retrieved July 13, 2020.
  6. O’Hare, Peggy (June 21, 2013). "Select Medical acquires interest in local rehab hospital". San Antonio Express-News. Retrieved July 13, 2020.
  7. Ghose, Carrie (June 27, 2013). "OhioHealth, Select Medical team up on stroke/trauma rehab unit". Columbus Business First.
  8. "Cedars-Sinai, UCLA Health System And Select Medical To Open Acute Rehabilitation Hospital". Beverly Hills Courier. December 20, 2013. Retrieved July 13, 2020.
  9. "UCLA Health System, Cedars-Sinai, Select Medical to open rehabilitation hospital". Daily Bruin. Retrieved July 13, 2020.
  10. Brunsman, Barrett (March 24, 2014). "TriHealth to open new hospital". Cincinnati Business Courier.
  11. Stauffer, Heather (June 10, 2014). "Select Medical announces joint venture with Cleveland Clinic". Central Penn Business Journal. Retrieved July 13, 2020.
  12. Stauffer, Heather (July 24, 2014). "PinnacleHealth, Select Medical to co-own rehab hospital, 23 clinics in Central Pa". Central Penn Business Journal. Retrieved July 13, 2020.
  13. George, John (March 23, 2015). "Select Medical to buy Concentra for $1B". Philadelphia Business Journal.
  14. "Select Medical building rehab hospital in Louisiana through joint venture". Central Penn Business Journal. July 1, 2015. Retrieved July 13, 2020.
  15. Lagasse, Jeff (June 1, 2016). "Kindred Healthcare, Select Medical Holdings complete swap of long-term acute care hospitals". Healthcare Finance News. Retrieved July 13, 2020.
  16. Ruhl, Lenay (April 1, 2016). "Select Medical sells its contract therapy business for $65 million". Central Penn Business Journal. Retrieved July 13, 2020.
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