March 01, 2015 2:53 PM ET

Healthcare Providers and Services

Company Overview of Select Medical Corporation

Company Overview

Select Medical Corporation operates specialty hospitals and outpatient rehabilitation clinics in the United States. Its Specialty Hospital segment operates hospitals designed to serve the needs of long term stay acute patients; and hospitals designed to serve patients that require intensive medical rehabilitation care. This segment offers services to patients with specialized needs, and serious and complex medical conditions, such as respiratory failure, neuromuscular disorders, traumatic brain and spinal cord injuries, strokes, non-healing wounds, cardiac disorders, renal disorders, and cancer. The company’s Outpatient Rehabilitation segment operates clinics, as well as provides physical, o...

4714 Gettysburg Road

PO Box 2034

Mechanicsburg, PA 17055

United States

Founded in 1996

21,400 Employees

Phone:

717-972-1100

Key Executives for Select Medical Corporation

Chief Executive Officer, President, Chief Executive Officer of Select Medical Holdings Corporation and President of Select Medical Holdings Corporation
Age: 57
Co-Founder, Executive Chairman and Member of Compensation Committee
Age: 56
Co-Founder, Vice Chairman and Member of Compensation Committee
Age: 81
Chief Financial Officer and Executive Vice President
Age: 59
Chief Operating Officer and Executive Vice President
Age: 52
Compensation as of Fiscal Year 2014.

Select Medical Corporation Key Developments

Select Medical Plans to Open Rehab Hospital at the Keystone Park Development Off Interstate 71

Select Medical announced that it plans to open a rehab hospital at the Keystone Park development off Interstate 71. The Courier first reported in March that the two sides were working together on a 60-bed acute inpatient rehab hospital. TriHealth says it has created a joint venture with Select Medical to open the facility in 2016.

Select Medical Corporation Enters into an Additional Credit Extension Amendment to its Senior Secured Credit Facility

Select Medical Corporation (Select), Select Medical Holdings Corporation (Holdings), JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the lender named therein entered into an Additional Credit Extension Amendment to Select's senior secured credit facility with a group of lenders and JPMorgan Chase Bank, N.A. as administrative agent. Pursuant to the terms and conditions of the Revolver Extension Amendment, the lender will extend the maturity date on $6.75 million in aggregate principal of revolving commitments from June 1, 2016 to March 1, 2018.

Cleveland Clinic and Select Medical Form Joint Venture to Expand Inpatient Rehabilitation in Northeast Ohio

Cleveland Clinic and Select Medical have finalized an agreement to form a joint venture to enhance inpatient rehabilitation services in Northeast Ohio and improve access for patients with complex rehab needs. As part of the joint venture, the two organizations will expand these services on Cleveland's West Side by building a new 60-bed adult inpatient rehabilitation hospital in Avon, Ohio. The two organizations have also entered into a management agreement, effective August 1, 2014, to enhance operations in existing Cleveland Clinic rehabilitation facilities. As currently planned, the West Side rehabilitation hospital will be located in Avon next to Cleveland Clinic's Avon medical campus. Construction is expected to begin this summer with the goal of opening in late 2015. In addition, the venture will establish a residency program for physicians in physical medicine and rehabilitation. Cleveland Clinic and Select Medical also share a goal of improving patient access to the quality post-acute and rehabilitation programs, as well as enhancing opportunities for employees. The agreement is expected to expand Cleveland Clinic's post-acute care capabilities by adding to existing home care, hospice and skilled nursing facility programming. Additionally, the joint venture will be exploring further opportunities to expand services locally, nationally and internationally with the goal of continuing to improve post-acute care options more broadly for patients.

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