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

store hospitals (c) 16.3% 20.9% 28.2% Outpatient Rehabilitation Number of clinics - end of period 999 956 (4.3)% Net operating revenues (,000) $165,057 $163,385 (1.0)% Number of visits 1,145,063 1,103,589 (3.6)% Revenue per visit (d) $101 $101 0.0% Adjusted EBITDA (,000) $15,167 $17,031 12.3% Adjusted EBITDA margin 9.2% 10.4% 13.0% (a) Specialty hospitals consist of long term acute care hospitals and acute medical rehabilitation hospitals. (b) Net revenue per patient day is calculated by dividing specialty hospital patient service revenue by the total number of patient days. (c) Adjusted EBITDA margin - same store hospitals represents the Adjusted EBITDA margin for those hospitals opened or acquired before January 1, 2007 and operated throughout both periods. (d) Net revenue per visit is calculated by dividing outpatient rehabilitation clinic revenue by the total number of visits. For purposes of this computation, outpatient rehabilitation clinic revenue does not include managed clinics or contract services revenue.

    V.  Key Statistics
        (unaudited)
        For the Year Ended December 31, 2007 and 2008
                                                                        %
                                                   2007        2008  Change

    Specialty Hospitals (a)

    Number of hospitals - end of period              87          93     6.9%

    Net operating revenues (,000)            $1,386,410  $1,488,412     7.4%

    Number of patient days                      987,624   1,005,719     1.8%

    Number of admissions    
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SOURCE Select Medical Corporation
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