Select Medical Holdings Corporation Announces Results for Third Quarter Ended Septembe...(e Plan and any remaining proceeds will b...),Health

Date:11/5/2009

e Plan, and any remaining proceeds will be used to repay additional indebtedness or for general corporate purposes. Because the closing and receipt of cash occurred on September 30, 2009, the repayments of indebtedness and payment under the Long Term Cash Incentive Plan were not made until October. As a result, we have reported a significant amount of cash on our September 30, 2009 balance sheet and we have reflected the mandatory repayment due under our credit facility as a current portion of long term debt.

On October 28, 2009, the underwriters purchased an additional 3,602,700 shares pursuant to their over-allotment option at a price to the public of $10.00 per share. The total net proceeds to Select from the exercise of the over-allotment option were approximately $33.9 million. A portion of the net proceeds from the exercise of the over-allotment option were used to repay indebtedness, and any remaining proceeds will be used to repay additional indebtedness or for general corporate purposes.

Conference Call

Select will host a conference call regarding its third quarter results on Friday, November 6, 2009, at 11:00 am EST. The domestic dial in number for the call is 1-866-783-2146. The international dial in number is 1-857-350-1605. The passcode for the call is 78893390. The conference call will be webcast simultaneously and can be accessed at Select Medical Holdings Corporation's website http://www.selectmedicalcorp.com.

For those unable to participate in the conference call, a replay will be available until 2:00pm EST, November 13, 2009. The replay number is 1-888-286-8010 (domestic) or 1-617-801-6888 (international). The passcode for the replay will be 54139669. The replay can also be accessed at Select Medical Holdings Corporation's website, http://www.selectmedicalcorp.com.

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SOURCE Select Medical Holdings Corporation Copyright©2009 PR Newswire. All rights reserved

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