Select Medical Holdings Corporation Determines Final Distribution Ratio for Concentra Group Holdings Parent, Inc. Shares

On November 19, 2024, Select Medical Holdings Corporation (NYSE: SEM) disclosed in an 8-K filing the finalization of the distribution ratio for Concentra Group Holdings Parent, Inc. shares. The distribution, which involves 104,093,503 shares of Concentra Group Holdings Parent Inc. common stock originally owned by Select Medical, is set to take place at 5:00 p.m. New York City time on November 25, 2024, for stockholders as of the close of business on November 18, 2024 – known as the Record Date.

The distribution is structured as a pro-rata common stock distribution, with each of Select Medical’s stockholders receiving 0.806971 shares of Concentra’s common stock for every share of Select Medical’s common stock held on the Record Date. Select Medical’s press release attached to the filing detailed the calculation methodology for determining the final distribution ratio, taking into account the shares held as of the Record Date, totaling 128,992,850 shares.

To facilitate the distribution process, on November 19, 2024, Select Medical provided an Information Statement to its stockholders outlining details about Concentra, the terms of the Distribution, and the relevant U.S. federal income tax implications associated with the transaction.

The Distribution is anticipated to mark the completion of Select Medical’s divestment of Concentra’s common stock, freeing Select Medical from any ownership over Concentra’s assets. The Distribution is seen as a strategic move to allow Select Medical and Concentra to pursue distinct growth strategies and optimize capital allocations tailored to their individual business priorities.

It’s essential to note that the Distribution is subject to various risk factors, as highlighted in the Safe Harbor Statement included in Select Medical’s 8-K filing. Factors such as market conditions and unforeseen events could potentially impact the outcome of the Distribution.

Stockholders of Select Medical are encouraged to review the complete information provided in the company’s recent filings with the Securities and Exchange Commission for comprehensive details about the Distribution and its implications. For further information and updates, stockholders can access both Select Medical and Concentra’s respective websites, alongside SEC filings located at www.sec.gov.

This news follows Select Medical’s proactive steps toward the finalization of the distribution of Concentra shares, aiming for a seamless process and clear communication to all stakeholders throughout this transition.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Select Medical’s 8K filing here.

Select Medical Company Profile

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.