The agreement was “inadvertently released,” according to an inspector general's office spokeswoman, who added that the office does not know when the official document will be released.
According to the document, Select will enter into a five-year agreement that outlines a host of obligations, such as establishing a compliance program that includes a compliance officer and committee; a written code of conduct; and annual training and education for Select employees on the program.
“We do not have an official statement on this matter at this time,” Edwin Bodensiek, vice president of public relations and communications at Select, said in an e-mail.
In a quarterly filing with the Securities and Exchange Commission for the period ended June 30, Select said it had received a subpoena from the inspector general's office in July 2009 that sought documents related to Select's financial relationships with certain physicians practicing at its long-term-care hospitals in Columbus, Ohio. Select said it recorded a pre-tax charge of $7.5 million to establish a settlement reserve that represents the company's “best estimate of a probable settlement.” The filing also said the company “can provide no assurance that it will finalize a settlement on such terms, nor can the company predict its total financial exposure in connection with this matter if a settlement is not reached.”