Select Medical goes private in $3.9B buyout led by its chairman

Select Medical, a major operator of rehabilitation and specialty hospitals across the United States, has been taken private in a leveraged buyout valued at approximately $3.9 billion, led by the company's own chairman. The transaction removes Select Medical from public markets, potentially affecting transparency around its outpatient and inpatient rehabilitation operations. Physical therapists employed by or contracting with Select Medical facilities may see strategic or operational changes as the company transitions to private ownership.

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