SEM: 15-12G · other
Select Medical Holdings Corporation filed a Form 15 to terminate the registration of its Common Stock under Section 12(g) of the Securities Exchange Act of 1934. The company cited that the number of holders of record fell below 300, specifically listing thirteen holders, and relied on Rules 12g-4(a)(1) and 12h-3(b)(1)(i) to suspend its duty to file reports. As a result, the company will no longer be required to file periodic reports such as Forms 10-K and 10-Q with the SEC. This action effectively transitions Select Medical Holdings from a public reporting company to a private entity or one with limited public reporting obligations. The filing was signed by John F. Duggan, Executive Vice President, General Counsel, and Secretary, on July 13, 2026.
SEM: SCHEDULE 13D/A · ownership disclosure
Select Medical Holdings Corporation filed an amendment to its Schedule 13D, disclosing the entry into Amended and Restated Rollover Agreements dated June 30, 2026. These agreements relate to the proposed merger with Stallion Group Parent, LP, pursuant to which certain investors will contribute their shares of Select Medical common stock to the acquiror in exchange for equity interests in the new private holding company, thereby waiving their right to receive cash merger consideration. The exhibits specifically list the number of subject securities being rolled over by investors, with one schedule indicating 6,674,010 shares and another indicating 1,138,754 shares. The agreements include irrevocable voting commitments in favor of the merger and standard representations regarding the investors' capacity and the unrestricted nature of the shares being rolled over. These rollover arrangements are typical in going-private transactions, allowing existing shareholders to maintain an economic interest in the company post-acquisition. The agreements also contain standard covenants regarding non-solicitation, confidentiality, and releases of claims related to the merger transaction.
SEM: 8-K · acquisition merger
Select Medical Holdings Corporation announced the consummation of its merger with Stallion MergerSub Corporation, effective as of July 1, 2026. As a result of the transaction, Select Medical has become an indirect wholly-owned subsidiary of Stallion Intermediate Corporation and is no longer a publicly traded entity. Public shareholders received $16.50 in cash for each share of common stock held, totaling an aggregate purchase price of approximately $1.7 billion. The transaction was financed through equity contributions from investors managed by affiliates of Welsh, Carson, Anderson & Stowe, as well as a new $1.0 billion Tranche B-3 term loan under the company’s credit agreement. Concurrent with the closing, the Company requested the delisting of its shares from the New York Stock Exchange and intends to file a Form 15 to deregister its securities. The entire board of directors was replaced, with Russell L. Carson, David S. Chernow, and Robert A. Ortenzio serving as the new directors of the surviving company.
Select Medical Holdings Corporation Acquired by Consortium Led by Robert A. Ortenzio, Martin F. Jackson, and WCAS
Select Medical Holdings Corporation completed its acquisition by a consortium led by Executive Chairman Robert A. Ortenzio, SVP Martin F. Jackson, and private equity firm Welsh, Carson, Anderson & Stowe. The transaction values the company at approximately $3.9 billion, with a purchase price of $16.50 per share representing an 18% premium to the unaffected share price and a 25% premium to the 90-day volume-weighted average price. Following the filing of the Certificate of Merger, SEM common stock ceased trading on the NYSE effective July 1, 2026, and the company will continue operations under current management as a private entity.
Select Medical Holdings Corporation Announces Stockholder Approval of Acquisition by Consortium Led by Robert A. Ortenzio, Martin F. Jackson, and WCAS
Select Medical stockholders approved the previously announced merger with a consortium led by Executive Chairman Robert A. Ortenzio, SVP Martin F. Jackson, and Welsh, Carson, Anderson & Stowe. The transaction received approval from over 79.88% of outstanding shares, with more than 76.64% of unaffiliated shares voting in favor. The company anticipates closing the deal in mid-2026, subject to remaining conditions, with financing and advisory support from major firms including J.P. Morgan, Wells Fargo, and Goldman Sachs.
Select Medical Holdings Corporation filed a Form 8-K to supplement its definitive proxy statement regarding the pending acquisition by a consortium led by Executive Chairman Robert A. Ortenzio and Welsh, Carson, Anderson & Stowe. The supplemental disclosures address three lawsuits and eleven demand letters from stockholders alleging the proxy statement misrepresented or omitted material information regarding the Merger. The Company denies the allegations but stated it is supplementing the disclosures to avoid business delays and provide additional information to stockholders. The filing reveals that Goldman Sachs contacted nine potential bidders in January 2026, consisting of four strategic and five financial sponsors. However, seven of these potential bidders stated they did not have interest in pursuing a transaction, and the remaining two did not respond to the outreach, indicating a lack of competing offers for the Company. Additionally, the disclosure notes that the Executive Chairman and Senior Executive Vice President are set to receive approximately $2.9 million and $0.2 million respectively in fees for their roles in structuring the transaction. Financial analyses provided by Goldman Sachs show a range of implied equity values per share from $9.99 to $29.87 based on precedent transactions, and $14.04 to $25.72 based on a future share price analysis. The special meeting of stockholders to vote on the Merger is scheduled for June 26, 2026. The lawsuits seek to enjoin the consummation of the Merger and, in some cases, actual and punitive damages.
$SEM Investigation: Select Medical $16.50 per share Acquisition Announcement Triggers Investigation into the Board - Current Shareholders Notified to Protect Your Rights
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending $16.50 per share acquisition. The firm alleges potential breaches of fiduciary duties, citing that insiders are allowed to rollover their shares while public shareholders are not. This release is a solicitation for shareholders to contact the firm on a contingency basis; it is not an issuer disclosure or a court filing.
Are BCO, SEM, NATL Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC issued a shareholder-solicitation notice naming BCO, SEM, and NATL; no new disclosure from the companies themselves. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
Select Medical (SEM) Board Investigated for Breaching its Duties to Investors - Current Shareholders Urged to Protect Your Rights
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending sale for $16.50 per share. The firm alleges potential breaches of fiduciary duties, citing the 'rollover' rights granted to insiders that are not available to public stockholders. This is a law-firm solicitation encouraging shareholders to contact the firm on a contingency basis; it is not an issuer disclosure or a court filing.
$SEM Report: Select Medical Board Investigated For Breaching Its Fiduciary Duties in Connection With The Announced $16.50 Per Share Acquisition
Bleichmar Fonti & Auld LLP issued a shareholder-solicitation notice naming Select Medical (SEM); no new disclosure from the company itself. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis regarding the pending $16.50/share acquisition. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
$SEM Stockholder Alert: Current Select Medical Shareholders Have Rights in Pending Investigation Into The Announced $16.50 Acquisition
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending $16.50 per share acquisition. The firm alleges potential breaches of fiduciary duties, citing that insiders are allowed to rollover their shares while public stockholders are not. This is a routine shareholder solicitation by a plaintiff law firm; the stockholder vote for the merger is scheduled for June 26, 2026.
Stock Alert: Select Medical (SEM) $16.50 Acquisition Annoucement Triggers Investigation into the Board on behalf of Current Shareholders
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending $16.50 per share acquisition. The firm alleges potential breaches of fiduciary duties, citing conflicts of interest involving co-founder Robert Ortenzio and director Russel L. Carson. Public shareholders are encouraged to contact the firm on a contingency basis; this is a standard plaintiff solicitation, not an issuer filing.
$SEM Ongoing Investigation: Select Medical Board Investigated For Breaching Its Duties to Current Shareholders Over $16.50 Transaction
Bleichmar Fonti & Auld LLP issued a shareholder-solicitation notice naming Select Medical (SEM); no new disclosure from the company itself. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis regarding the pending $16.50 per share merger. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
$SEM Inquiry Reminder: Current Select Medical Shareholders Notified to Protect Your Rights in Connection With The Pending Investigation Into $16.50 Acquisition
Bleichmar Fonti & Auld LLP issued a shareholder-solicitation notice naming Select Medical (SEM); no new disclosure from the company itself. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis regarding the pending $16.50 acquisition. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
Select Medical (SEM) Board Hit With Investigation Following Announcement of $16.50 Merger Price
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending $16.50 per share merger. The firm alleges potential breaches of fiduciary duties, citing the 'rollover' option for insiders that is not available to public stockholders. The release is a solicitation for shareholders to contact the firm on a contingency basis; it does not represent a new disclosure from Select Medical itself.
$SEM Class Investigation: Select Medical Announces $16.50 per share Acquisition - Investigation for Current Shareholders is Underway
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board and management regarding the pending $16.50 per share acquisition. The firm alleges potential breaches of fiduciary duties, citing the 'rollover' option for insiders that is not available to public shareholders. This is a standard plaintiff-firm solicitation encouraging shareholders to submit their information on a contingency fee basis; no new disclosure from the issuer.
$SEM Investigation Alert: Select Medical $16.50 Merger Deal Triggers Investigation into the Board on behalf of Current Shareholders
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending $16.50 per share merger. The firm alleges potential breaches of fiduciary duties, citing the 'rollover' option for insiders that is not available to public stockholders. This release is a solicitation for shareholders to contact the firm on a contingency basis; it is not an issuer disclosure or a court filing.
SEM Stock Notification: Select Medical Board Investigated for Breaching its Duties to Investors Over $16.50 Acquisition Price
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending $16.50 per share acquisition. The law firm alleges potential breaches of fiduciary duties, citing the 'rollover' option for insiders that is not available to public stockholders. This is a standard shareholder solicitation encouraging investors to contact the firm on a contingency basis; it is not an issuer disclosure or a court filing.
Are SEM, AFBI, BLD, QXO Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC issued a solicitation notice investigating potential fiduciary duty breaches in the proposed sale of Affinity Bancshares to Fidelity BancShares. The release also targets Select Medical, TopBuild, and QXO, urging shareholders to contact the firm to discuss their rights at no cost. This is a routine plaintiff-firm marketing release soliciting clients for potential class actions, not an issuer disclosure or court filing.
$SEM Merger Investigation Initiated: Select Medical Investors Notified of the Pending Investigation into the $16.50 Acquisition Announcement
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding the pending $16.50 per share acquisition. The firm is soliciting shareholders to submit their information on a contingency fee basis, citing potential breaches of fiduciary duty. This is a routine plaintiff-firm marketing release; it does not represent a new disclosure from Select Medical or a court action.
Shareholder Investigation: The Select Medical ($SEM) Board is being Investigated on behalf of Current Shareholders for Breaching their Fiduciary Duties in Connection with Announced Merger
Bleichmar Fonti & Auld LLP announced an investigation into Select Medical's board regarding fiduciary duties in connection with the pending merger. The firm is soliciting shareholders to submit their information on a contingency fee basis, noting the June 26 stockholder vote deadline. This release is a standard plaintiff-firm marketing notice and does not represent a new disclosure or material development from Select Medical itself.
$SEM Ongoing Investigation Alert: Select Medical Investigation Into The Board Over Merger is Pending - Current Investors Notified to Protect Your Rights
Bleichmar Fonti & Auld LLP issued a shareholder-solicitation notice naming Select Medical (SEM); no new disclosure from the company itself. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis regarding the pending merger. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
Are KORE, SEM, BLD, QXO Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC issued a shareholder-solicitation notice naming TopBuild (BLD) and three other companies; no new disclosure from the companies themselves. The release is a routine lead-plaintiff-deadline reminder soliciting investors with losses to contact the firm on a contingency basis. This is law-firm marketing, not an issuer disclosure or a court action; treat as low-signal noise.
SELECT MEDICAL AND CARILION CLINIC ENTER INTO JOINT VENTURE PARTNERSHIP TO OPERATE AN INPATIENT REHABILITATION HOSPITAL IN ROANOKE, VIRGINIA
Select Medical and Carilion Clinic formed a joint venture to build and operate a new 50-bed inpatient rehabilitation hospital in Roanoke, Virginia. Select Medical will serve as the majority owner and manager of the new facility, which is scheduled to open in spring/summer 2028. The new hospital will replace Carilion's existing 34-bed acute rehabilitation unit, expanding capacity in a growing market for inpatient rehab care.
Are SEM, XOMA, SLNO, KORE Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC, an investor rights law firm, is investigating potential violations of federal securities laws and breaches of fiduciary duties related to the sale of Select Medical Holdings Corporation (SEM) for $16.50 per share. The firm is also investigating the sale of XOMA Royalty Corporation (XOMA) to Ligand Pharmaceuticals for $39.00 per share. Soleno Therapeutics, Inc. (SLNO) is being investigated for its sale to Neurocrine Biosciences for $53.00 per share in cash. KORE Group Holdings, Inc. (KORE) is under investigation for its sale to Searchlight Capital Partners and Abry Partners for $9.25 per share.
Are STEL, BCO, SEM, NATL Obtaining Fair Deals for their Shareholders?
Halper Sadeh LLC is investigating The Brink's Company concerning potential violations of federal securities laws related to its proposed merger with NCR Atleos Corporation. The law firm is examining whether the transaction, which would leave Brink's shareholders with approximately 78% of the combined company, provides fair value to investors. Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation.
Select Medical Holdings Corporation Announces Results For Its First Quarter Ended March 31, 2026 and Cash Dividend
Select Medical reported Q1 revenue growth of 5.0% to $1.42 billion, but profitability deteriorated significantly with net income falling 14.7% year-over-year to $63.8 million and EPS dropping to $0.35. The company announced that the waiting period under the Hart-Scott-Rodino Act expired on April 27, 2026, moving its $16.50 per share go-private merger with a WCAS XIV-led consortium closer to a mid-2026 closing. Management maintained its full-year 2026 guidance for revenue of $5.6 billion to $5.8 billion and declared a quarterly cash dividend of $0.0625 per share.
Select Medical Holdings Corporation Announces Expiration of Hart-Scott-Rodino Waiting Period
The Hart-Scott-Rodino waiting period for the acquisition of Select Medical by a subsidiary of WCAS XIV expired on April 27, 2026, clearing a key regulatory condition. The transaction remains on track to close in mid-2026, subject to the approval of Select Medical's stockholders and other customary closing conditions. Select Medical operates a extensive network of 103 critical illness recovery hospitals, 41 rehabilitation hospitals, and 1,912 outpatient rehabilitation clinics across the U.S.
SEM: 8-K · proxy statement
Select Medical Holdings Corporation held its annual meeting on April 23, 2026, where stockholders approved five proposals. Three Class II directors were elected to the board and PricewaterhouseCoopers LLP was ratified as the independent auditor for the fiscal year ending December 31, 2026. Shareholders also approved an amendment to phase out the classified board structure and voted on two non-binding advisory proposals regarding the right to call special meetings. The company’s proposal requiring a 25% ownership threshold to call a special meeting passed, while the shareholder proposal requiring a 10% threshold failed.
