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Select Medical Corporation Announces Results for First Quarter Ended March 31, 2008
Date:5/15/2008

, prior year. The Adjusted EBITDA margin for the segment was 16.7% for the first quarter of 2008, compared to 18.6% for the same quarter, prior year. The Adjusted EBITDA margin for the hospitals opened or acquired as of January 1, 2007 and operated by Select throughout both periods was 18.7% for the first quarter of 2008, compared to 19.4% for the same quarter, prior year.

Outpatient Rehabilitation

At March 31, 2008, Select operated 985 outpatient clinics. This compares to 545 outpatient clinics at March 31, 2007. The increase in the number of clinics is primarily due to Select's acquisition, in the second quarter of 2007, of substantially all of the outpatient rehabilitation division of HealthSouth Corporation. For the first quarter of 2008, net operating revenues increased 50.9% to $169.6 million compared to $112.4 million for the same quarter, prior year. Adjusted EBITDA for the first quarter increased 14.1% to $20.1 million compared to $17.6 million for the same quarter, prior year. The Adjusted EBITDA margin for the quarter was 11.9% compared to 15.7% in the same quarter, prior year. Patient visits for the quarter were 1,155,907 compared to 646,651 for the same quarter, prior year. Net revenue per visit was $103 for the first quarter of 2008 compared to $101 for the same quarter, prior year.

Conference Call

Select will host a conference call regarding its first quarter results on Wednesday, May 21, 2008, at 11:00 am EDT. The domestic dial in number for the call is 1-888-452-0455. The international dial in number is 1-210-839-8503. The passcode for the call is 6165104.

Select Medical Corporation is a leading operator of specialty hospitals in the United States. Select operates 88 long-term acute care hospitals and four acute medical rehabilitation hospitals in 25 states. Select is also a leading operator of outpatient rehabilitation clinics in the United States, with approximately 985 locations in 37 states and the District of
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SOURCE Select Medical Corporation
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