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/PRNewswire/ -- Select Medical Holdings Corporation (NYSE: SEM) ("Select Medical," "we," "us," or "our") confirmed today that its previously announced...

SELECT MEDICAL and Carilion Clinic enter into joint venture partnership to operate an Inpatient Rehabilitation Hospital in ROANOKE, Virginia. Rhea-AI Impact (Moderate) Rhea-AI Sentiment partnership Rhea-AI summary. Select Medical (SEM) and Carilion Clinic formed a joint venture to build and operate a new 50-bed inpatient rehabilitation hospital in Roanoke, Virginia. Select Medical will be majority owner and manager. The state-of-the-art facility on 9th Street SE is slated to start construction in spring 2026 and open in spring/summer 2028. Upon opening, Carilion Roanoke Community Hospital will close its existing 34-bed acute rehabilitation unit. AI-generated analysis. Not financial advice. Positive. * Joint venture to build a new 50-bed inpatient rehabilitation hospital in Roanoke * Select Medical designated as majority owner and manager of the new hospital * New facility planned to replace an existing 34-bed acute rehabilitation unit * Defined construction timeline starting spring 2026 with opening targeted for spring/summer 2028 Negative. * Existing 34-bed acute rehabilitation unit will cease operation when new hospital opens * Multi-year construction timeline delays potential operational and revenue benefits until at least 2028 News market reaction - SEM. Key figures. New rehab capacity: 50 beds Existing rehab unit: 34 beds Construction start: Spring 2026 +1 more Market reality check. Price: $16.52 Vol: Volume 4,507,344 is 2.78x... Peers on argus. While SEM was roughly flat pre-news (0.06%), key peers like PACS (-0.19), AVAH (... Previous partnership reports. 1 past event · Latest: Oct 17 (Positive) Same Type Pattern 1 events Historical comparison. -0.2% avg move · Past partnership news for SEM saw an average -0.17% move. The current JV, with shares around $16.52... partnership Market pulse summary. This announcement highlights Select Medical's continued expansion of inpatient rehabilitation servic... Key terms. joint venture partnership, inpatient rehabilitation hospital, acute rehabilitation unit AI-generated analysis. Not financial advice. 05/21/2026 - 06:00 AM MECHANICSBURG, Pa. and ROANOKE, Va., May 21, 2026 /PRNewswire/ - Select Medical Corporation and Carilion Clinic announced today they have entered into a joint venture partnership 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 Carilion Rehabilitation Hospital. "As the need for inpatient rehabilitative care continues to grow, we are proud to partner with Carilion Clinic to support this expanding patient population across Virginia's Blue Ridge," said Tom Mullin, chief executive officer of Select Medical. "Together, we are committed to delivering best-in-class patient care and outcomes that rebuild function, mobility and independence following serious illness or injury such as stroke, traumatic brain injury, spinal cord injury and other neurological conditions." The joint venture agreement contemplates constructing a new 50-bed state-of-the-art hospital located at 9th Street, SE, in Roanoke. Construction will begin in spring 2026 with a targeted opening in spring/summer 2028. Upon the new hospital's opening, Carilion Roanoke Community Hospital will cease operation of its existing 34-bed acute rehabilitation unit. "This new hospital is an investment in strengthening and growing physical rehabilitation services in our region, and it's made possible through the skill, dedication and compassion that our Inpatient Rehabilitation team brings to our patients every day," said Mike Abbott, president of Carilion Medical Center. "We're grateful for everything our team has shared with us about the best ways for us to elevate patient care and look forward to Select Medical's resources, knowledge, and expertise boosting the care we provide to our community and helping us serve even more patients who need rehabilitative care." About Carilion Clinic Carilion Clinic is a not-for-profit healthcare organization headquartered in Roanoke, Va. A comprehensive network of hospitals, primary and specialty physician practices and other complementary services enable employees to collaborate in providing quality care close to home for nearly 1 million Virginians. With an enduring commitment to the region's health and wellness, Carilion also advances care through philanthropy, medical education and research, helps the communities it serves stay healthy, and inspires the region to grow stronger. For more information, visit CarilionClinic.org. About Select Medical Select Medical is one of the largest operators of critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics in the United States based on number of facilities. Select Medical's reportable segments include the critical illness recovery hospital segment, the rehabilitation hospital segment, and the outpatient rehabilitation segment. As of March 31, 2026, Select Medical operated 103 critical illness recovery hospitals in 28 states, 41 rehabilitation hospitals in 15 states, and 1,912 outpatient rehabilitation clinics in 37 states and the District of Columbia. At March 31, 2026, Select Medical had operations in 38 states and the District of Columbia. Information about Select Medical is available at www.selectmedical.com. Media Contacts Select Medical: Shelly Eckenroth, [email protected] or 717-920-4035 Carilion Clinic: Pete Larkin, [email protected] or 540-266-6559 SOURCE SELECT MEDICAL CORPORATION Faq. What did Select Medical (SEM) announce with Carilion Clinic on May 21, 2026? Select Medical and Carilion Clinic announced a joint venture to build and operate a new 50-bed inpatient rehabilitation hospital in Roanoke. According to Select Medical, the partnership will focus on advanced rehabilitative care for patients with serious illnesses and injuries. Where will the new Select Medical and Carilion inpatient rehabilitation hospital be located in Roanoke? The new inpatient rehabilitation hospital will be located on 9th Street SE in Roanoke, Virginia. According to Select Medical, the facility is described as a state-of-the-art hospital designed to strengthen and grow physical rehabilitation services in the region. When will construction and opening of the new Select Medical (SEM) and Carilion rehab hospital occur? Construction of the joint venture rehabilitation hospital is expected to begin in spring 2026, with opening targeted for spring or summer 2028. According to Select Medical, this timeline outlines a multi-year build before patient services start at the new facility. How many beds will the new Select Medical and Carilion rehab hospital have compared with the current unit? The new hospital is planned to have 50 inpatient rehabilitation beds. According to Select Medical, it will replace Carilion Roanoke Community Hospital's existing 34-bed acute rehabilitation unit once the new facility opens to patients. What happens to Carilion Roanoke Community Hospital's existing rehab unit after the new SEM facility opens? Upon opening of the new 50-bed rehabilitation hospital, Carilion Roanoke Community Hospital will cease operating its existing 34-bed acute rehabilitation unit. According to Select Medical, services will transition to the new joint venture facility in Roanoke. Who will manage the new Roanoke inpatient rehabilitation hospital created by Select Medical (SEM) and Carilion? Select Medical will serve as the majority owner and manager of the new inpatient rehabilitation hospital. According to Select Medical, the company will provide resources, knowledge, and expertise to support high-quality rehabilitative care in partnership with Carilion Clinic.

Harrisburg University & Select Medical welcome inaugural Doctor of Physical Therapy (DPT) class for first lab immersion. March 27, 2026 HARRISBURG, PA - On Thursday, March 26, 2026, Harrisburg University of Science and Technology (HU) and Select Medical welcomed the inaugural student cohort in the newly launched Doctor of Physical Therapy program at HU. The new degree program, now fully integrated into the Select Medical Institute for Physical Therapy and Movement, welcomed its first 52 students, who hail from 12 US states and represent a wide range of lived experiences, professional backgrounds, and career aspirations. While this first cohort officially began their studies in January, this was the students' first visit to campus and the beginning of their first week-long lab immersion. The program offers a hybrid course delivery experience, joining online instruction with rigorous, hands-on lab activities and collaborative research projects. You can meet three students in the inaugural DPT cohort right here. To mark the occasion, Harrisburg University and Select Medical hosted a welcome breakfast and kickoff ceremony, featuring opening remarks from HU and Select Medical leadership. "This institute is a declaration" Dave Schankweiler, Interim President, Harrisburg University "This institute is a declaration. It says that Pennsylvania's only independent STEM university and one of the nation's leading healthcare organizations have come together with the shared belief that the future of physical therapy education must be shaped by the people who practice it, teach it, and lead it, working together under one roof. This is truly a nationwide program, which is another testament to the tenaciousness of its faculty, and a validation of their vision. "You probably can't tell, but I have two new knees and structural screws in my ankles. This is something that can happen when you play basketball for far too many years, which in my case was until I was 52. I went to physical therapy four times over 10 years because of sports injuries. And all four times, I made sure I went to the same therapist. She was amazing. Because of the work she did with me, I can do things today that I could not do for years. My surgeon put me back together, but my physical therapist gave me my life back. "I tell you that story because each student in this room is going to be that person for someone. You are going to be the reason someone walks without pain again, the reason someone picks up their grandchild, or the reason someone gets back to the sport, the job, and the life they thought was behind them. That is what physical therapy does. And that is what you are here to learn how to do." "Collaboration. Integrity. Innovation. Accountability" John Saich, President, Select Medical "I can't tell you how honored and privileged all of the colleagues in Select Medical are to be part of the program, and to be part of Harrisburg University. In early 2004, Select Medical and Harrisburg University united around a shared mission to help shape the next generation of physical therapists and advance the future of rehabilitative care. That mission is grounded in common values, collaboration, integrity, innovation, and accountability. "Over the past two years, those values have guided our work as we partnered closely to design a truly innovative doctor of physical therapy program. One that will educate, prepare, and inspire students to pursue highly rewarding careers in movement science. At Select Medical, we deeply believe in creating accessible academic pathways that lead to long-term professional growth and opportunities. Building these pathways is essential. And when we get that right, everyone benefits." "A watershed moment" Kevin Purcell, Ph.D., Provost, Harrisburg University "This program is the culmination of an incredible amount of work, but it's also a watershed moment for us as an institution. Our commitment to healthcare, and serving our region and the nation, is a core part of this program. I want to take a moment to recognize the faculty, who have worked diligently and incredibly hard to bring this program to fruition, and to bring it in a way that's innovative and changing the way that this market is going to be fed in the future. To the students in the room: Congratulations on making this far! I wish you the best of luck in your studies." "Curiosity. Grit. Joy." Tonya Miller, PT, DPT, Ph.D., Program Lead for Physical Therapy "Today, Harrisburg, PA is not simply beginning a lab session. Harrisburg, PA is launching a vision. Harrisburg, PA is building community. Together, Harrisburg, PA is going to shape the future of physical therapy. As you begin this journey, I want to offer three guiding principles that will shape your experience here and bar beyond it. They are curiosity, grit and joy. "These are not just ideas. These are the same guiding principles that got Harrisburg, PA here to this exact moment. Each new path forward starts with curiosity. Someone having the courage to ask what if? is what brought the DPT program at HU to life. Curiosity is what brought each of you here today. It's you asking: What if I started this journey? What more could I learn? How could I grow? How can I make a difference? Curiosity fuels innovation. It fuels growth. And curiosity will be the foundation of your success here. "But curiosity alone is not enough. While passion gets you started, grit is what keeps you going. There will be moments when you think things are difficult. You might have already seen some of those moments. There will be long nights. There will be moments when you question whether you can do this. The answer is yes! You can do this. And not because it will be easy, but because you will develop your grit. Grit is persistence. Grit is showing up, even when it's hard. "Finally, I want to challenge you to be intentional about joy. Celebrate those small wins. Celebrate making it through this first lab practical this week. Celebrate the moment when something finally clicks. Celebrate the connections, the new friendships, and celebrate your curiosity and your grit, because each one of those moments is progress. Each one of those is a step closer to your goal. Today, we celebrate something meaningful. We celebrate the beginning." A commitment to diversity and excellence. "One thing we're most proud of is the diversity in this room," added Dr. Miller. "The diversity of experiences, backgrounds, and perspectives. It's this diversity that will make you stronger practitioners, better collaborators and more effective leaders. We span the country, from the Northeast to the South, the Midwest to the West Coast. We have three generations working side by side in this class. And so many of you bring vastly different life experiences to the table. That is what will set you apart." Over half of the Class of 2028 is made up of physical therapy assistants (PTAs). Other backgrounds include fitness professionals, athletic trainers, and newly minted bachelors of science looking to expand their skills and horizons. The average age for the inaugural cohort is 33 years of age, and the group has a 50/50 male-female ratio. Harrisburg University was founded with a specific mission: To provide students with a workforce-ready education in the fields that matter most to its communities and to its country. This new academic program is not simply an addition to Harrisburg University; it is an expression of HU's most closely held beliefs and aligns perfectly with the institution's mission. HU takes complex science and turns it into practical human impact. "Helping patients recover from injuries, nurture their bodies, and turn a page to a new chapter in their life is as practical as it gets," noted President Schankweiler. Harrisburg University once again thanks Select Medical, all of the HU faculty who brought this program to life, and the students who brought their ambitions and dreams for the future. When you earn your degrees in 2028, you will not only be Harrisburg University's first Doctors of Physical Therapy. You will be the standard that every class after you aspires to. Harrisburg, PA wish you great success in your studies and your future endeavors. About HARRISBURG university. Harrisburg University of Science and Technology (HU) is an independent, nonprofit university offering degrees in advanced manufacturing, engineering, robotics, nursing, cybersecurity, and other critical fields. Accredited by the Middle States Commission on Higher Education, HU serves a diverse student body through bachelor's, master's, and doctoral programs that link learning and research with practical applications. For information about HU's affordable STEM degrees and professional development programs, call 717.901.5146 or email [email protected]. Stay in the know by following Harrisburg University on LinkedIn, Instagram, and Facebook. Media contact. Do you have questions about this story? Interested in lining up an interview? Please contact Dan Wilhelm, Communications Manager for Harrisburg University, at [email protected] or 717.901.5100x1724.