Select Medical Holdings Corporation Announces Results for Third Quarter Ended Septembe...(965 outpatient clinics at September 30 2...),Health

Date:11/5/2009

965 outpatient clinics at September 30, 2008. For the third quarter of 2009, net operating revenues for the segment increased 5.3% to $168.8 million compared to $160.3 million for the same quarter, prior year. Adjusted EBITDA for the segment for the third quarter increased 27.4% to $20.9 million compared to $16.4 million for the same quarter, prior year. The Adjusted EBITDA margin for the segment for the quarter was 12.4% compared to 10.2% in the same quarter, prior year. Patient visits for the quarter were 1,126,096 compared to 1,106,529 for the same quarter, prior year. Net revenue per visit was $101 for both the quarter ended September 30, 2009 and the same quarter, prior year.

For the nine months ended September 30, 2009, net operating revenues for the segment increased 1.7% to $509.8 million compared to $501.4 million for the same period, prior year. Adjusted EBITDA for the nine months ended September 30, 2009 increased 12.0% to $67.5 million compared to $60.2 million for the same period, prior year. The Adjusted EBITDA margin for the nine months ended September 30, 2009 was 13.2% compared to 12.0% in the same period, prior year. Patient visits for the nine months ended September 30, 2009 were 3,385,733 compared to 3,430,138 for the same period, prior year. Net revenue per visit was $102 for both the nine months ended September 30, 2009 and the same period, prior year.

Initial Public Offering of Common Stock

On September 30, 2009, Select completed its initial public offering of common stock at a price to the public of $10.00 per share. Select sold 30,000,000 shares in the offering. The total net proceeds to Select from the offering after deducting underwriting discounts and commissions and offering expenses were approximately $279.1 million. A portion of the net proceeds from the offering were used to repay indebtedness and to make payments to executive officers under the Long Term Cash Incentiv
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SOURCE Select Medical Holdings Corporation Copyright©2009 PR Newswire. All rights reserved

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