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Select medical going private in mechanicsburg deal valued at 3.9 billion
Rachel Curry, Contributing Writer//June 29, 2026//
Select Medical is being bought by a consortium led by its own top insiders, executive chairman Robert A. Ortenzio and senior executive vice president Martin F. Jackson, as well as major healthcare and tech private equity firm WCAS (Welsh, Carson, Anderson & Stowe).
Select medical going private in mechanicsburg deal valued at 3.9 billion
Rachel Curry, Contributing Writer//June 29, 2026//
Mechanicsburg-based Select Medical is going private in a deal approved by shareholders on June 26. The deal, which values individual shares at $16.50, values the 2,200-location U.S. hospital and outpatient center network at $3.9 billion.
The company is being bought by a consortium led by its own top insiders, executive chairman Robert A. Ortenzio and senior executive vice president Martin F. Jackson, as well as major healthcare and tech private equity firm WCAS (Welsh, Carson, Anderson & Stowe).
Subject to conditions outlined in the deal, Select Medical expects the public-to-private transaction to finalize by June 30.
Select Medical first hit the public market in 2009. Since then, its market capitalization has increased more than 200 percent, although most of that growth came within the first decade of trading. Since 2021, the stock has lost more than a quarter of its value.
More than 79 percent of shareholders voted in favor of the deal, including more than 75 percent of shareholders unaffiliated with the purchasing consortium. Once Select Medical goes private, its stock will no longer be traded on the New York Stock Exchange and its daily operations of recovery hospitals and rehabilitation clinics across the country will continue under private ownership.
