SELECT MEDICAL HOLDINGS CORP
selectmedical.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2026 10-Q, filed Apr 30, 2026. Its latest SEC filing is a SCHEDULE 13G/A from Aug 13, 2026.
10-Q for Q1 FY2026, filed Apr 30, 2026
The sections below describe the company as of the FY2025 annual report.
What Did They Do?
Operates critical illness recovery hospitals for people with complex medical needs, rehabilitation hospitals for people needing intensive therapy, and outpatient clinics providing physical, occupational and speech rehabilitation.
10-K for FY2025, filed Feb 19, 2026Our reportable segments include the (i) critical illness recovery hospital segment, (ii) rehabilitation hospital segment, and (iii)…View ↗
Our critical illness recovery hospital segment consists of hospitals designed to serve the needs of patients recovering from critical…View ↗
We are a leading operator of critical illness recovery hospitals in the United States. Our hospitals are certified by Medicare as long term…View ↗
Our rehabilitation hospitals provide comprehensive physical medicine, as well as rehabilitation programs and services, which serve to…View ↗
How Did They Make Money?
Most patient care is paid for by third-party payors on the patient’s behalf; Medicare amounts depend on services and length of stay, while non-Medicare prices use fee schedules, negotiated rates or usual charges. Other revenue includes employee-leasing services to non-consolidating subsidiaries.
10-K for FY2025, filed Feb 19, 2026Patient service revenues are recognized at an amount equal to the consideration the Company expects to be entitled to in exchange for…View ↗
Medicare: Medicare is a federal program that provides medical insurance benefits to persons age 65 and over, some disabled persons, and…View ↗
Non-Medicare: Non-Medicare payor sources include, but are not limited to, insurance companies (including Medicare Advantage plans), state…View ↗
Our reportable segments include the (i) critical illness recovery hospital segment, (ii) rehabilitation hospital segment, and (iii)…View ↗
-
10-K for FY2025, filed Feb 19, 2026
FY2025 revenue by product or service ↗
$5.5B
-
10-K for FY2025, filed Feb 19, 2026
$5.5B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Medicare
|
29%
FY2022: 31%
|
Medicare, FY2025
$1.6B Sources
|
|
Non-Medicare
|
62%
FY2022: 59%
|
Non-Medicare, FY2025
$3.4B Sources
|
|
Other revenue
|
9.9%
FY2022: 9.9%
|
Other revenue, FY2025
$537.5M Sources
|
Who Were Their Customers?
Patients are admitted after referrals from physicians, case managers or discharge planners. Insurers and government programs, employers, and patients themselves pay for care; most patients’ services are covered by third-party payors.
10-K for FY2025, filed Feb 19, 2026When a patient is referred to one of our critical illness recovery hospitals by a physician, case manager, discharge planner, or payor, a…View ↗
When a patient is referred to one of our rehabilitation hospitals by a physician, case manager, discharge planner, health maintenance…View ↗
Our non-government sources of revenue include insurance companies, workers’ compensation programs, health maintenance organizations…View ↗
Patient service revenues are recognized at an amount equal to the consideration the Company expects to be entitled to in exchange for…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 2 cents into free cash flow.
10-K for FY2025, filed Feb 19, 2026
$336.2MView ↗
10-K for FY2025, filed Feb 19, 2026
$146.2MView ↗
10-K for FY2025, filed Feb 19, 2026
$117.2MView ↗
How Were They Changing?
10-Q for Q1 FY2026, filed Apr 30, 2026
Open tableView ↗
-
Jul 1, 2026
Consortium completed acquisition of Select Medical
The merger converted eligible shares into cash, and Select Medical’s shares stopped trading on the NYSE.
Sources
8-K, filed Jul 1, 2026
At the Effective Time, each share of common stock, par value $0.001 per share, of the Company (the “Company Shares”) issued and outstanding…View ↗
Shrank. Revenue fell 12% in 4 years, from $6.2B in FY2021 to $5.5B in FY2025, about 3% a year.
Concentra separated
The earlier business included Concentra occupational health centers and employer-site services as a segment. The latest report describes critical illness recovery hospitals, rehabilitation hospitals and outpatient rehabilitation, and says Select no longer owns Concentra.
10-K for FY2022, filed Feb 23, 2023 10-K for FY2025, filed Feb 19, 2026
Loading...
