Willkie Advises on Select Medical Corporation’s $2.3 Billion Merger

Select Medical Corporation announces agreement to merge with a new company formed by an investment group led by private equity houses Welsh, Carson, Anderson & Stowe and Thoma Cressey Equity Partners in a deal valued at $2.3 billion.   

As reported in the October 18 issue of The Daily Deal, Select Medical Corporation announced that it has signed an agreement to merge with a new company formed by an investment group led by private equity houses Welsh, Carson, Anderson & Stowe and Thoma Cressey Equity Partners in a deal valued at $2.3 billion.   The group also comprises an existing stockholder of Select and certain members of Select's management.  Willkie partners Frank Daniele and William Grant, and associate David Kurzweil advised the controlling management shareholders, including Select's Executive Chairman Rocco A. Ortenzio and Select's CEO and President Robert A. Ortenzio, on this transaction.  Select Medical Corporation is a leading operator of specialty hospitals, operating 83 long-term acute care facilities in 25 states.  Upon completion of the proposed merger Select will become a privately held company and a wholly owned subsidiary of EGL Holding Company.