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

margin for the hospitals opened or acquired as of January 1, 2007 and operated by Select throughout both periods was 18.4% for the year ended December 31, 2008, compared to 17.5% for the prior year.

Outpatient Rehabilitation

At December 31, 2008, Select operated 956 outpatient clinics. This compares to 999 outpatient clinics at December 31, 2007. For the fourth quarter of 2008, net operating revenues for the segment decreased 1.0% to $163.4 million compared to $165.1 million for the same quarter, prior year. Adjusted EBITDA for the segment for the fourth quarter increased 12.3% to $17.0 million compared to $15.2 million for the same quarter, prior year. The Adjusted EBITDA margin for the segment for the quarter was 10.4% compared to 9.2% in the same quarter, prior year. Patient visits for the quarter were 1,103,589 compared to 1,145,063 for the same quarter, prior year. Net revenue per visit was $101 for both the fourth quarter of 2008 and for the same quarter, prior year.

For the year ended December 31, 2008, net operating revenues for the segment increased 10.2% to $664.8 million compared to $603.4 million for the prior year. Adjusted EBITDA for the segment for the year ended December 31, 2008 increased 2.4% to $77.3 million compared to $75.4 million for the prior year. The Adjusted EBITDA margin for the segment for the year ended December 31, 2008 was 11.6% compared to 12.5% in the prior year. Patient visits for the year ended December 31, 2008 were 4,533,727 compared to 4,032,197 for the prior year. Net revenue per visit was $102 for the year ended December 31, 2008 compared to $100 for the prior year.

Conference Call

Select Medical Holdings Corporation ("Holdings"), the Parent of Select, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") in connection with the proposed initial public offering of its co
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SOURCE Select Medical Corporation
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