Mechanicsburg, Pa.-based Select Medical signed an agreement to be acquired by a consortium led by its co-founder and executive chairman Robert Ortenzio.
Select Medical will become a privately held company upon completion of the deal valued at $3.9 billion, according to a March 2 Select Medical news release. The acquisition is expected to close in mid-2026, subject to customary closing conditions.
The consortium is also led by Select Medical Senior Executive Vice President of Strategic Finance and Operations Martin Jackson and private equity firm Welsh, Carson, Anderson & Stowe.
As of Dec. 31 Select Medical operated 104 critical illness recovery hospitals, 38 rehabilitation hospitals and 1,917 outpatient rehabilitation clinics. Select Medical has facilities in 39 states as well as Washington, D.C.
Select Medical’s current management is expected to remain in place following the completion of the merger, according to the release.
