Select Medical Holdings Corporation (SEM) recently collaborated with Pittsburgh-based healthcare provider, UPMC, to unveil plans to open a satellite facility of the original Helen M. Simpson Rehabilitation Hospital, a joint venture hospital of SEM and UPMC. A satellite facility, as defined in SEM's annual filing, is a long-term care hospital ("LTCH") that uses the same Medicare provider number as its affiliated "primary site" LTCH and is generally located within 35 miles of the primary site. Satellite LTCHs ...

Company Overview - Select Medical Holdings Corporation is one of the largest operators of critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States based on the number of facilities [3] - As of March 31, 2024, Select Medical operated 107 critical illness recovery hospitals in 28 states, 33 rehabilitation hospitals in 12 states, 1,922 outpatient rehabilitation clinics in 39 states and the District of Columbia, 547 occupational health centers in 41 states, and 151 onsite clinics at employer worksites [3] - The company has operations in 46 states and the District of Columbia [3] Financial Results Announcement - Select Medical will release its financial results for the second quarter ended June 30, 2024, on Thursday, August 1, 2024, after the market closes [2] - A conference call regarding the second quarter results and business outlook will be hosted on Friday, August 2, 2024, at 9:00 am ET [4] - The conference call will be available as a live webcast and a replay will be accessible shortly after the call [4]

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Core Viewpoint - Select Medical Holdings Corporation and Concentra Group Holdings Parent, Inc. announced the pricing of $650 million aggregate principal amount of 6.875% senior notes due 2032 as part of a plan to separate Concentra, its occupational health services business [1] Group 1: Offering Details - The offering consists of senior notes priced at 6.875% and is due in 2032 [1] - Concentra plans to use $50 million of the net proceeds for general corporate purposes, with the remainder to be paid to Select Medical Corporation as a dividend [2] - The closing of the offering is not conditioned on the consummation of the Merger, which is expected in the third quarter of 2024 [6] Group 2: Merger and Separation - The notes will be guaranteed by Concentra and certain subsidiaries upon the consummation of the Merger, which involves merging Concentra Escrow Issuer Corporation with Concentra Health Services, Inc. [1] - If the Merger is not completed by September 30, 2024, the notes will be subject to a special mandatory redemption at 100% of the initial issue price plus accrued interest [6] Group 3: Regulatory and Compliance - The notes are being offered in a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S [7] - The notes and related guarantees have not been registered under the Securities Act and may not be offered or sold in the U.S. without registration or an exemption [7]

Cautionary Statement Regarding Forward-Looking Statements Joel T. Veit 717-972-1100 [email protected] The notes and related guarantees are being offered in a private placement, solely to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), or to persons other than "U.S. persons" outside the United States in compliance with Regulation S under the Securities Act. The notes and related guarantees have not ...

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Core Viewpoint - The increase in patient days and admissions in the Critical Illness Recovery Hospital and Rehabilitation Hospital segments is expected to enhance investor confidence, leading to a recommendation for investors to maintain their current stock positions [1]. Group 1: Company Performance - Select Medical Holdings Corporation (SEM) has shown strong performance, with a year-to-date stock return of 42.4%, significantly outperforming the industry decline of 5.8% and the S&P 500 Index growth of 12.4% [7]. - The Zacks Consensus Estimate for SEM's 2024 earnings indicates a 5.5% year-over-year increase to $2.10 per share, with a projected 12.5% growth for 2025 [8]. - Revenue per visit is expected to rise, contributing to an anticipated 4.1% year-over-year growth in SEM's 2024 top line, reaching over $6.9 billion [16]. Group 2: Market Trends - The strategic expansion of facilities is allowing SEM to capture a larger market share, with expected growth in patient admissions of 1.5% and 3.3% year-over-year for its Critical Illness Recovery and Rehabilitation Hospital segments, respectively [2]. - The Outpatient Rehabilitation and Concentra units are projected to see nearly 2% and 1% growth in the number of visits from the previous year [2]. Group 3: Financial Health - SEM's long-term debt-to-capital ratio stands at 69.8%, significantly higher than the industry average of 38.4%, indicating potential financial leverage concerns [4]. - The company exited the first quarter with cash and cash equivalents of $92.6 million, while long-term debt increased to $3.8 billion from $3.6 billion at the end of 2023 [4]. Group 4: Analyst Sentiment - Analysts have shown confidence in SEM, with one upward estimate revision for the 2024 bottom line in the past 30 days, resulting in a 2.9% increase in the Zacks Consensus Estimate for 2024 earnings [15]. - The company has beaten earnings estimates three times in the past four quarters, with an average surprise of 19.3% [8].

Core Insights - Zacks Premium provides tools for investors to enhance their stock market strategies, including daily updates, research reports, and stock screens [1][2] Zacks Style Scores - Zacks Style Scores are indicators that help investors select stocks likely to outperform the market in the next 30 days, rated from A to F based on value, growth, and momentum [2][9] Value Score - The Value Style Score focuses on identifying undervalued stocks using ratios like P/E, PEG, and Price/Sales to find attractive investment opportunities [3] Growth Score - The Growth Style Score assesses a company's financial health and future outlook by analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - The Momentum Style Score capitalizes on price trends, using factors like one-week price changes and monthly earnings estimate changes to identify high-momentum stocks [5] VGM Score - The VGM Score combines the Value, Growth, and Momentum Scores to identify stocks with the best overall potential, serving as a strong indicator alongside the Zacks Rank [6] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in building successful portfolios, with 1 (Strong Buy) stocks averaging a +25.41% annual return since 1988 [7][8] Stock to Watch: Select Medical (SEM) - Select Medical is a healthcare company with around 53,800 employees, operating long-term acute care and rehabilitation hospitals, and has a Zacks Rank of 3 (Hold) with a VGM Score of A [12] - The company has a forward P/E ratio of 15.75, indicating attractive valuation metrics, and has seen an upward revision in earnings estimates for fiscal 2024, with the consensus estimate increasing by $0.07 to $2.10 per share [12][13]

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Select Medical Holdings Corporation (NYSE:SEM) Q1 2024 Earnings Conference Call May 3, 2024 9:00 AM ET Company Participants Robert Ortenzio - Chief Executive Chairman and Co-Founder Martin Jackson - Senior EVP, Strategic Finance & Operations Conference Call Participants Justin Bowers - Deutsche Bank Ben Hendrix - RBC Capital Markets A.J. Rice - UBS Bill Sutherland - The Benchmark Company Operator Good morning and thank you for joining us today for Select Medical Holdings Corporation's Earnings Conference Ca ...