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Select Medical Corporation Announces Results for Fourth Quarter and Year Ended December 31, 2008
Date:3/23/2009

he fourth quarter of 2008 were 249,626, admissions were 10,286 and net revenue per patient day was $1,509. This compares to 245,665 days, 9,913 admissions and net revenue per patient day of $1,410 for the same quarter, prior year. For the hospitals opened or acquired as of January 1, 2007 and operated by Select throughout both periods, patient days in the fourth quarter of 2008 were 229,366 and admissions were 9,448, compared to 234,781 days and 9,456 admissions in the same quarter, prior year. Adjusted EBITDA for the segment increased 40.9% to $68.8 million compared to $48.8 million for the same quarter, prior year. The Adjusted EBITDA margin for the segment was 17.9% for the fourth quarter of 2008, compared to 13.8% 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 20.9% for the fourth quarter of 2008, compared to 16.3% for the same quarter, prior year.

For the year ended December 31, 2008, net operating revenues for all of Select's hospitals increased 7.4% to $1,488.4 million compared to $1,386.4 million for the prior year. Total patient days for the year ended December 31, 2008 were 1,005,719, admissions were 41,177 and net revenue per patient day was $1,453. This compares to 987,624 days, 40,008 admissions and net revenue per patient day of $1,378 for the prior year. For the hospitals opened or acquired as of January 1, 2007 and operated by Select throughout both periods, patient days for the year ended December 31, 2008 were 944,367 and admissions were 38,545, compared to 924,506 days and 37,533 admissions in the prior year. Adjusted EBITDA for the segment for the year ended December 31, 2008 increased 8.8% to $236.4 million compared to $217.2 million for the prior year. The Adjusted EBITDA margin for the segment for the year ended December 31, 2008 was 15.9%, compared to 15.7% for the prior year. The Adjusted EBITDA
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SOURCE Select Medical Corporation
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