Select Medical Holdings Corporation (SEM) Stock Analysis
Select Medical’s $16.50 take-private deal largely crystallizes value for shareholders while shifting reimbursement, labor, and leverage risks to the private consortium.
Overview
Select Medical is nearing completion of a take-private transaction at $16.50 per share, backed by co-founder Robert Ortenzio, Martin Jackson, and WCAS. Shareholders have overwhelmingly approved the merger, with closing expected in mid-2026. Post-Concentra, SEM is a focused post-acute operator with growth led by inpatient rehabilitation. Q1 2026 revenue rose 5% to $1.42 billion, but EBITDA fell 6.5% due to labor pressure and Medicare Advantage denials. The deal offers public shareholders liquidity at a valuation near the top of SEM’s historical range.