Select Medical
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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.[1][2]
In 2009, the company announced a joint venture with SSM Health Care.[2]
In December 2012, the company announced a partnership with Emory Healthcare.[3]
In 2013, David Chernow was appointed CEO while co-founders Robert and Rocco Ortenzio became chairmen of the company.[1] In June, Select Medical acquired two inpatient rehabilitation facilities from GlobalRehab Management.[4] Also in 2013, Select Medical and OhioHealth Corp announced a joint venture and reopened the OhioHealth Rehabilitation Hospital in August 2013.[5] In December, the company announced a partnership with Cedars-Sinai and UCLA Health System to create the California Rehabilitation Institute.[6][7]
In March 2014, the company announced a joint venture with TriHealth to open the TriHealth Rehabilitation Hospital in Cincinnati.[8] In June, the company announced a joint venture with the Cleveland Clinic to operate a rehabilitation hospital in Avon, Ohio.[9] Also in June, the company announced a joint venture with PinnacleHealth System to co-own a rehabilitation hospital.[10]
In 2015, Select Medical completed its acquisition of Concentra, a national health care company.[11] Also in 2015, the company announced a partnership with Ochsner Health System.[12]
In February 2016, the company announced an agreement to swap hospitals with Kindred Healthcare.[13][14] In March, the company acquired Physiotherapy Associates Holdings.[14] In April, the company sold its Contract Therapy business to Encore Rehabilitation Services, a portfolio company of Revelstoke Capital Partners LLC.[14]
References
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