Select Medical Holdings Corporation Announces Distribution Ratio for Special Stock Distribution to Stockholders

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MECHANICSBURG, Pa., Nov. 19, 2024 /PRNewswire/ -- Select Medical Holdings Corporation ("Select Medical," "we," "us," or "our") (NYSE: SEM) today announced the distribution ratio for the previously announced special stock distribution (the "Distribution") to its stockholders of its equity interest in Concentra Group Holdings Parent, Inc. ("Concentra") (NYSE: CON). Based on the shares of Select Medical's common stock outstanding as of November 18, 2024, the record date (the "Record Date") for the Distribution, Select Medical's stockholders will receive 0.806971 shares of Concentra's common stock for every share of Select Medical's common stock held as of the close of business on the Record Date.

The Distribution by Select Medical of the special stock distribution will be made on November 25, 2024 (the "Distribution Date") in the form of a pro rata common stock distribution to all of Select Medical's stockholders of record on the Record Date. No fractional shares of Concentra's common stock will be distributed. Instead, Select Medical's stockholders will receive cash in lieu of any fraction of a share of Concentra's common stock that they otherwise would have received. The Distribution is generally intended to qualify as tax free to Select Medical's stockholders for U.S. federal income tax purposes.

J.P. Morgan and Goldman Sachs are acting as financial advisors to Select Medical in connection with the Distribution. Dechert LLP is acting as legal advisor to Select Medical in connection with the Distribution.

Information Regarding the Distribution

No vote or action is required by Select Medical's stockholders in order to receive the Distribution of shares of Concentra's common stock.

Select Medical's stockholders of record on the Record Date will receive account statements reflecting their ownership interest in shares of Concentra's common stock. Concentra's common stock issued in the Distribution will be in book-entry form, and no physical share certificates of Concentra will be issued. Select Medical's stockholders who hold their shares through brokers or other nominees will have their shares of Concentra's common stock credited to their accounts by their nominees or brokers. Select Medical's stockholders will not be required to pay cash or other consideration for the shares of Concentra's common stock to be distributed to them, or surrender or exchange their shares of Select Medical's common stock to receive the Distribution. For additional information, registered stockholders in the United States and Canada should contact Select Medical's transfer agent, Computershare Trust Company, N.A. at 1-800-736-3001. Stockholders from outside the United States may call 1-781-575-3100. Stockholders who hold their shares through brokers or other nominees should contact their brokers or other nominees directly.

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