UPDATE 1-Healthcare operator Select Medical to be taken private by a consortium

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Select Medical Holdings Corporation

SEM

16.26

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March 2 (Reuters) - Select Medical SEM.N said on Monday that it would be taken private by a consortium in a deal that values the healthcare operator at $3.9 billion.

A consortium led by some of its executives, including Executive Chairman Robert Ortenzio, and private equity firm Welsh, Carson, Anderson & Stowe, will pay $16.50 in cash for every share not already owned by the consortium, the company said.

The price represents about an 18% premium over Pennsylvania-based Select Medical's shares since November 24, when Ortenzio first proposed delisting the company.

The company ended trading on Monday at $15 per share and rose more than 7% after the bell.

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