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Select Medical entered into Amendment No. 12 to its existing Credit Agreement, establishing a new $1.0 billion incremental term loan. The amendment, with JPMorgan Chase Bank as administrative and collateral agent and a syndicate of lenders, adds significant debt capacity under the company's long-st…

/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.