Select Medical completes initial public offering of common stock

Select Medical Holdings Corporation ("Select") (NYSE: SEM), the parent of Select Medical Corporation, today announced that it successfully completed its initial public offering of common stock at a price of $10.00 per share. Select sold 30,000,000 shares in the offering. Select's stock began trading on the New York Stock Exchange on September 25, 2009 under the Symbol "SEM."

Total net proceeds to Select from the offering, after deducting underwriter discounts and commissions and estimated offering expenses, are approximately $278.7 million. Select intends to use the net proceeds from the offering to repay indebtedness and to make payments to executive officers under Select's Long Term Cash Incentive Plan. Any remaining net proceeds will be used for general corporate purposes.

SOURCE Select Medical Corporation