Select Medical Taken Private in $3.9 Billion Consortium Buyout

The transaction, valued at $16.50 per share, represents an 18% premium over the company's unaffected share price from November 2025. Shareholders ratified the merger during a special meeting held June 26, clearing the path for the company to delist effective July 1, 2026. Under the terms of the agreement, the consortium now holds the majority economic interest in the healthcare provider.

Despite the change in ownership, leadership remains constant. Ortenzio and Jackson will retain their executive roles, continuing to oversee a national network that includes 103 critical illness recovery hospitals, 41 rehabilitation hospitals, and over 1,900 outpatient clinics. The financing for the deal was arranged by a group including J.P. Morgan and Wells Fargo, while Goldman Sachs provided advisory services to the special committee of independent directors.