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Select Medical Holdings Corporation Announces Results for Fourth Quarter and Year Ended December 31, 2009
Date:2/18/2010

31, 2009 increased 15.3% to $89.1 million compared to $77.3 million for the prior year. The Adjusted EBITDA margin for the year ended December 31, 2009 was 13.1% compared to 11.6% in the prior year. Patient visits for the year ended December 31, 2009 were 4,502,049 compared to 4,533,727 for the prior year. Net revenue per visit was $102 for both the year ended December 31, 2009 and the prior year.

Initial Public Offering of Common Stock

On September 30, 2009 Select completed an initial public offering of 30,000,000 shares at a price to the public of $10.00 per share, and on October 28, 2009, the underwriters exercised their over-allotment option to purchase an additional 3,602,700 shares at the same price.  The total net proceeds to Select after deducting underwriting discounts and commissions and offering expenses was approximately $312.5 million.  Select used the proceeds from the offering to repay $258.4 million of revolving and term loans outstanding under its senior secured credit facility and to make payments to executive officers under the Long Term Cash Incentive Plan of $18.0 million.  The remaining proceeds were used for general corporate purposes
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SOURCE Select Medical Holdings Corporation
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