PR Newswire·Jun 26, 2026, 5:18 PM ET

Select Medical Holdings Corporation Announces Stockholder Approval of Acquisition by Consortium Led by Robert A. Ortenzio, Martin F. Jackson, and WCAS

SEM

Select Medical Holdings Corporation stockholders approved the previously announced Merger Agreement with a Consortium led by Robert A. Ortenzio, Martin F. Jackson, & Welsh, Carson, Anderson & Stowe (WCAS) at a special meeting on June 26, 2026.
The Merger requires closing subject to terms & conditions described in the May 19, 2026, Definitive Proxy Statement filed with the SEC, with closing expected mid-2026.
Approximately 82.54% of outstanding shares were voted, approving the Merger with over 79.88% of total outstanding shares & over 76.64% of shares held by stockholders unaffiliated with the Consortium.
Final voting results will be filed in a Current Report on Form 8-K with the SEC.
J.P. Morgan & Wells Fargo serve as joint lead arrangers & bookrunners for the Consortium's debt financing, while Goldman Sachs acts as exclusive financial advisor to Select Medical.
Legal & financial advisors include Skadden, Arps, Slate, Meagher & Flom LLP (Special Committee), Dechert LLP (Select Medical), Cravath, Swaine & Moore LLP (Consortium), Barclays (WCAS financial advisor), Ropes & Gray LLP (WCAS counsel), & Paul Hastings LLP (debt financing counsel).
As of March 31, 2026, Select Medical operated 103 critical illness recovery hospitals, 41 rehabilitation hospitals, & 1,912 outpatient rehabilitation clinics across 38 states & the District of Columbia.
WCAS is a U.S. private equity firm focused on technology & healthcare with over $33 billion in committed capital since its 1979 founding.
The release includes standard cautionary statements regarding forward-looking statements & risks that could cause actual results to differ materially from projections.