Select Medical Holdings Corporation SEM shares are trading higher on Thursday after the company announced the potential separation of Concentra.
What To Know: Select Medical Holdings announced on Wednesday after the close of the market that its board of directors approved a plan to pursue the separation of Concentra Group Holdings Parent, LLC, the company's wholly-owned occupational health services business.
The separation would result in the creation of two independent, publicly traded companies.
Robert A. Ortenzio, Executive Chairman and Co-Founder of Select Medical, stated, "The board and management team regularly evaluate strategic alternatives to maximize stockholder value, while supporting our overall mission – providing an exceptional patient care experience that promotes healing and recovery in a compassionate environment."
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SEM Price Action: Shares of SEM were up 11.2% at $26.12 at the time of publication, according to Benzinga Pro.
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