Select Medical Completes Asset Acquisition
Ticker: SEM · Form: 8-K · Filed: Nov 26, 2024 · CIK: 1320414
Sentiment: neutral
Topics: acquisition, assets
TL;DR
SELECT MEDICAL just bought some assets, deal is done.
AI Summary
Select Medical Holdings Corp. announced the completion of its acquisition of assets from an unnamed seller on November 25, 2024. The filing also includes financial statements and exhibits related to this transaction. The company is headquartered in Mechanicsburg, PA.
Why It Matters
This filing confirms the completion of an acquisition, which could impact Select Medical's market position and future financial performance.
Risk Assessment
Risk Level: low — The filing reports the completion of an asset acquisition, which is a standard business event and does not inherently indicate significant new risks.
Key Players & Entities
- SELECT MEDICAL HOLDINGS CORP (company) — Registrant
- November 25, 2024 (date) — Date of earliest event reported
- Mechanicsburg, PA (location) — Principal executive offices
FAQ
What specific assets were acquired by Select Medical Holdings Corp.?
The filing does not specify the exact nature or value of the assets acquired.
Who was the seller in this asset acquisition?
The filing does not disclose the identity of the seller.
What is the financial impact of this acquisition on Select Medical Holdings Corp.?
The filing mentions financial statements and exhibits but does not detail the specific financial impact of the acquisition.
When did the acquisition officially close?
The acquisition was completed on November 25, 2024.
Are there any material changes to Select Medical's business operations as a result of this acquisition?
The filing does not provide details on the operational impact of the acquisition.
Filing Stats: 694 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-11-26 17:10:45
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share SEM New York Stock Exchange
- $22.13 — of shares of Concentra common stock of $22.13 per share on November 25, 2024, the agg
- $2,303.6 million — y to its stockholders was approximately $2,303.6 million. A copy of the Company's press release
Filing Documents
- tm2429402d1_8k.htm (8-K) — 29KB
- tm2429402d1_ex99-1.htm (EX-99.1) — 10KB
- tm2429402d1_ex99-2.htm (EX-99.2) — 248KB
- tm2429402d1_ex99-1img001.jpg (GRAPHIC) — 38KB
- tm2429402d1_ex99-1img002.jpg (GRAPHIC) — 14KB
- 0001104659-24-123173.txt ( ) — 552KB
- sem-20241125.xsd (EX-101.SCH) — 3KB
- sem-20241125_lab.xml (EX-101.LAB) — 33KB
- sem-20241125_pre.xml (EX-101.PRE) — 22KB
- tm2429402d1_8k_htm.xml (XML) — 4KB
01
Item 2.01 Completion of Acquisition or Disposition of Assets. On November 25, 2024, Select Medical Holdings Corporation (the "Company") announced that it had completed the previously announced spin-off of Concentra Group Holdings Parent, Inc. ("Concentra") by means of a special stock distribution of 104,093,503 shares of common stock of Concentra (the "Distribution") that had been owned by Select Medical Corporation ("SMC"), a wholly owned subsidiary of the Company, to the Company's stockholders as of the close of business on November 18, 2024 (the "Record Date"). Based on the number of shares of the Company's common stock outstanding as of the Record Date, holders of the Company's common stock received 0.806971 shares of Concentra common stock for each outstanding share of the Company's common stock they owned as of the Record Date. No fractional shares of Concentra common stock were distributed. Instead, the Company's stockholders will receive cash in lieu of any fraction of a share of Concentra common stock that they otherwise would have received. Prior to the Distribution, the Company owned approximately 81.7% of the outstanding shares of Concentra common stock. Following the completion of the Distribution, the Company no longer owns any shares of Concentra common stock. Based on the closing price of shares of Concentra common stock of $22.13 per share on November 25, 2024, the aggregate market value of the shares distributed by the Company to its stockholders was approximately $2,303.6 million. A copy of the Company's press release announcing the completion of the Distribution is attached as Exhibit 99.1 to this Current Report on Form 8-K, and incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (b) Pro forma financial information. Unaudited pro forma financial information of the Company to give effect to the Distribution is included in Exhibit 99.2 filed herewith and incorporated by reference into this Item 9.01. (d) Exhibits. Exhibit No. Description of Exhibit 99.1 Press Release of Select Medical Holdings Corporation, dated November 25, 2024 99.2 Pro forma financial information of Select Medical Holdings Corporation (Unaudited) 104 Cover Page Interactive Data File (embedded with the Inline XBRL) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SELECT MEDICAL HOLDINGS CORPORATION Date: November 26, 2024 By: /s/ Michael E. Tarvin Michael E. Tarvin Senior Executive Vice President, General Counsel and Secretary