Select Medical Stockholders Approve Management-Led Buyout

The special meeting saw a turnout of approximately 82.54% of outstanding shares, with 79.88% voting in favor of the transaction. Crucially, the proposal also secured support from 76.64% of stockholders unaffiliated with the consortium, clearing a significant hurdle for the deal. Mechanicsburg-based Select Medical, which operates over 100 critical illness recovery hospitals and nearly 2,000 outpatient clinics across the U.S., now awaits the final satisfaction of closing conditions outlined in the definitive proxy statement filed with the SEC in May.

A complex web of financial and legal advisors is overseeing the transition. Goldman Sachs is advising the company’s special committee of independent directors, while J.P. Morgan and Wells Fargo handle debt financing arrangements for the consortium. The parties expect the merger to close by mid-2026, though the outcome remains subject to customary regulatory approvals and potential legal challenges common in such high-profile acquisitions.