Rocco Ortenzio
Encyclopedia
Rocco Ortenzio is an American businessman and entrepreneur
, who during his career has founded several health care companies
.
Ortenzio co-founded Select Medical Corporation
in 1996 with his son, Robert Ortenzio. Select Medical "operate[s] hospitals within hospitals," and "provide[s] acute long-term care to critically ill patients." Beginning in February 1997, Ortenzio held the position of Chairman and Chief executive officer
for Select Medical: he held these positions until that September. In the same year, he was awarded the Business Achievement Award from the West Shore Chamber of Commerce. Since that time, he has served as its Executive chairman. In 1998, Select Medical bought fellow health care provider Intensiva for approximately $110 million. In February of 2010, it was estimated that both Rocco and his son had made "about $200 million from salary, benefits and share sales since founding Select in November 1996." In September of 2009, they sold 90% of Select Medical to the public through shares, but retained around $200 million worth of the company, or 10 percent.
In 2005, Rocco Ortenzio sold his company Continental Medical Systems to Horizon Healthcare Corporation for $502 million in stock. He had founded Continental in 1986, and held the positions of Chairman and Chief Executive Officer until July of 1995. After the merger, he became the vice chairman of Horizon, which became one of the largest companies of its kind in the U.S. Horizon/CMS was eventually acquired by HealthSouth
in 1997.
Ortenzio was also made a Knight of the Order of St. Sylvester
, on October 21, 2007.
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
, who during his career has founded several health care companies
Health care provider
A health care provider is an individual or an institution that provides preventive, curative, promotional or rehabilitative health care services in a systematic way to individuals, families or communities....
.
Ortenzio co-founded Select Medical Corporation
Select Medical Corporation
Select Medical Corporation is a leading provider of specialized health care in both inpatient and outpatient settings. Based in Mechanicsburg, Pennsylvania, Select Medical has 27,300 employees throughout the United States. The company was co-founded in 1996 by Rocco Ortenzio and Robert Ortenzio...
in 1996 with his son, Robert Ortenzio. Select Medical "operate[s] hospitals within hospitals," and "provide[s] acute long-term care to critically ill patients." Beginning in February 1997, Ortenzio held the position of Chairman and Chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
for Select Medical: he held these positions until that September. In the same year, he was awarded the Business Achievement Award from the West Shore Chamber of Commerce. Since that time, he has served as its Executive chairman. In 1998, Select Medical bought fellow health care provider Intensiva for approximately $110 million. In February of 2010, it was estimated that both Rocco and his son had made "about $200 million from salary, benefits and share sales since founding Select in November 1996." In September of 2009, they sold 90% of Select Medical to the public through shares, but retained around $200 million worth of the company, or 10 percent.
In 2005, Rocco Ortenzio sold his company Continental Medical Systems to Horizon Healthcare Corporation for $502 million in stock. He had founded Continental in 1986, and held the positions of Chairman and Chief Executive Officer until July of 1995. After the merger, he became the vice chairman of Horizon, which became one of the largest companies of its kind in the U.S. Horizon/CMS was eventually acquired by HealthSouth
HealthSouth
HealthSouth Corporation , based in Birmingham, Alabama, is the nation’s largest owner and operator of inpatient rehabilitative hospitals. Operating in 26 states across the country and in Puerto Rico, HealthSouth serves patients through its network of inpatient rehabilitation hospitals , outpatient...
in 1997.
Ortenzio was also made a Knight of the Order of St. Sylvester
Order of St. Sylvester
The Pontifical Equestrian Order of St. Sylvester Pope and Martyr , sometimes referred to as the Sylvestrine Order, or the Pontifical Order of Pope St Sylvester, is one of five Orders of Knighthood awarded directly by the Pope as Supreme Pontiff and head of the Catholic Church and as the Head of...
, on October 21, 2007.