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.
History
The company is based in
Mechanicsburg, Pennsylvania, and was co-founded in 1996 by
Rocco Ortenzio and Robert Ortenzio.
In 2009, the company announced a joint venture with
SSM Health Care.
In December 2012, the company announced a partnership with
Emory Healthcare.
In 2013, David Chernow was appointed CEO while co-founders Robert and Rocco Ortenzio became chairmen of the company.
In June, Select Medical acquired two inpatient rehabilitation facilities from GlobalRehab Management. Also in 2013, Select Medical and OhioHealth Corp announced a joint venture and reopened the OhioHealth Rehabilitation Hospital in August 2013. In December, the company announced a partnership with
Cedars-Sinai
Cedars-Sinai Medical Center is a nonprofit, tertiary, 886-bed teaching hospital and multi-specialty academic health science center located in Los Angeles, California. Part of the Cedars-Sinai Health System, the hospital employs a staff of over 2 ...
and
UCLA Health System to create the California Rehabilitation Institute.
In March 2014, the company announced a joint venture with TriHealth to open the TriHealth Rehabilitation Hospital in Cincinnati. In June, the company announced a joint venture with the
Cleveland Clinic to operate a rehabilitation hospital in
Avon, Ohio. Also in June, the company announced a joint venture with
PinnacleHealth System to co-own a rehabilitation hospital.
In 2015, Select Medical completed its acquisition of
Concentra, a national health care company. Also in 2015, the company announced a partnership with
Ochsner Health System
Ochsner Health System is a not-for-profit health system based in the New Orleans metropolitan area of southeast Louisiana, United States.
it is the largest non-profit, academic healthcare system operating in Louisiana, with 40 medical facilitie ...
.
In February 2016, the company announced an agreement to swap hospitals with
Kindred Healthcare
Kindred Healthcare was a post-acute healthcare services company that operated long-term acute-care hospitals and provides rehabilitation services across the United States.
Kindred's headquarters and support center were located in Louisville, Ke ...
.
In March, the company acquired Physiotherapy Associates Holdings.
In April, the company sold its Contract Therapy business to Encore Rehabilitation Services, a portfolio company of Revelstoke Capital Partners LLC.
References
{{Authority control
Companies listed on the New York Stock Exchange
Companies based in Harrisburg, Pennsylvania
American companies established in 1996
Health care companies established in 1996
Private equity portfolio companies
Health care companies based in Pennsylvania
2001 initial public offerings