Exhibit 99.1

Select Medical Holdings Corporation Announces Results for

First Quarter Ended March 31, 2017

MECHANICSBURG, PENNSYLVANIA — May 4, 2017 — Select Medical Holdings Corporation (“Select Medical”) (NYSE: SEM) today announced results for its first quarter ended March 31, 2017.

For the quarter ended March 31, 2017, net operating revenues increased 2.1% to $1,111.4 million, compared to $1,088.3 million for the same quarter, prior year.  Income from operations increased 5.6% to $91.8 million for the quarter ended March 31, 2017, compared to $86.9 million for the same quarter, prior year. Net income was $23.5 million for the quarter ended March 31, 2017, which includes a pre-tax loss on early retirement of debt of $19.7 million. Net income was $59.9 million for the quarter ended March 31, 2016, which includes a pre-tax non-operating gain of $25.1 million and pre-tax loss on early retirement of debt of $0.8 million. Earnings excluding interest, income taxes, depreciation and amortization, gain (loss) on early retirement of debt, stock compensation expense, Physiotherapy acquisition costs, non-operating gain (loss), and equity in earnings (losses) of unconsolidated subsidiaries (“Adjusted EBITDA”) for the quarter ended March 31, 2017 was $138.9 million, compared to $128.6 million for the same quarter, prior year. A reconciliation of net income to Adjusted EBITDA is presented in table V of this release. Income per common share for the quarter ended March 31, 2017 was $0.12 on a fully diluted basis, compared to $0.42 for the same quarter, prior year. Excluding the loss on early retirement of debt and related tax effects, adjusted income per common share was $0.21 per diluted share for the quarter ended March 31, 2017. Excluding the non-operating gain, loss on early retirement of debt, and related tax effects, adjusted income per common share was $0.22 per diluted share for the quarter ended March 31, 2016. A reconciliation of income per common share to adjusted income per common share is presented in table VI of this release.

Specialty Hospitals Segment

For the quarter ended March 31, 2017, net operating revenues for the specialty hospitals segment were $598.8 million, compared to $599.0 million for the same quarter, prior year. Adjusted EBITDA for the specialty hospitals segment increased 2.2% to $88.7 million for the quarter ended March 31, 2017, compared to $86.8 million for the same quarter, prior year. The Adjusted EBITDA margin for the specialty hospitals segment was 14.8% for the quarter ended March 31, 2017, compared to 14.5% for the same quarter, prior year. The Adjusted EBITDA results for the specialty hospitals segment include start-up losses of approximately $2.0 million for the quarter ended March 31, 2017, compared to $3.8 million for the same quarter, prior year.  Certain specialty hospitals key statistics for the quarters ended March 31, 2017 and 2016 are presented in table IV of this release.

Outpatient Rehabilitation Segment

The financial results of the outpatient rehabilitation segment include the contract therapy businesses through March 31, 2016 and Physiotherapy Associates Holdings, Inc. (“Physiotherapy”) beginning March 4, 2016.

For the quarter ended March 31, 2017, net operating revenues for the outpatient rehabilitation segment increased 7.4% to $255.8 million, compared to $238.1 million for the same quarter, prior year. Adjusted EBITDA for the outpatient rehabilitation segment increased 8.6% to $31.4 million for the quarter ended March 31, 2017, compared to $28.9 million for the same quarter, prior year. The Adjusted EBITDA margin for the outpatient rehabilitation segment was 12.3% for the quarter ended March 31, 2017, compared to 12.1% for the same quarter, prior year. Certain outpatient rehabilitation key statistics for the quarters ended March 31, 2017 and 2016 are presented in table IV of this release.

Concentra Segment

For the quarter ended March 31, 2017, net operating revenues for the Concentra segment increased 2.1% to $256.1 million, compared to $250.9 million for the same quarter, prior year.   Adjusted EBITDA for the Concentra segment increased 24.7% to $42.6 million for the quarter ended March 31, 2017, compared to $34.2 million for the same quarter, prior year.  The Adjusted EBITDA margin for the Concentra segment was 16.6% for the quarter ended March 31, 2017, compared to 13.6% for the same quarter, prior year. Certain Concentra key statistics for the quarters ended March 31, 2017 and 2016 are presented in table IV of this release.

Refinancing

On March 6, 2017, Select Medical entered into a new senior secured credit agreement that provides for $1.6 billion in senior secured credit facilities comprising a $1.15 billion, seven-year term loan and a $450.0 million, five-year revolving credit facility, including a $75.0 million sublimit for the issuance of standby letters of credit. Select Medical used borrowings under the new senior secured credit facilities to: (i) refinance in full the series E tranche B term loans due June 1, 2018, the series F tranche B term loans due March 31, 2021, and the revolving facility due March 1, 2018 under its then existing credit facilities; and (ii) pay fees and expenses in connection with the refinancing.

Stock Repurchase Program

Select Medical did not repurchase shares during the quarter ended March 31, 2017 under its authorized $500.0 million stock repurchase program. The program has been extended until December 31, 2017, and will remain in effect until then, unless further extended or earlier terminated by the board of directors.

Business Outlook

Select Medical continues to expect for the full year of 2017 consolidated net operating revenues to be in the range of $4.4 billion to $4.6 billion and Adjusted EBITDA for the full year of 2017 to be in the range of $540.0 million to $580.0 million. Select Medical now expects fully diluted income per common share for the full year 2017 to be in the range of $0.69 to $0.87. Select Medical expects fully diluted adjusted income per common share for the full year 2017 to be in the range of $0.78 to $0.96. Fully diluted adjusted income per common share excludes the non-operating loss and loss on early retirement of debt and their related tax effects.

Select Medical’s business outlook for fully diluted income per common share for the full year 2017 has been updated to include the effects of the refinancing of Select’s senior secured credit facilities.

Conference Call

Select Medical will host a conference call regarding its first quarter results, as well as its business outlook, on Friday, May 5, 2017, at 9:00am EDT. The domestic dial in number for the call is 1-877-430-7741. The international dial in number is 1-615-247-0054. The passcode for the call is 9660441. The conference call will be webcast simultaneously and can be accessed at Select Medical Holdings Corporation’s website, www.selectmedicalholdings.com.

For those unable to participate in the conference call, a replay will be available until 11:59pm EDT, May 12, 2017. The replay number is 1-855-859-2056 (domestic) or 1-404-537-3406 (international). The passcode for the replay will be 9660441. The replay can also be accessed at Select Medical Holdings Corporation’s website, www.selectmedicalholdings.com.

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Select Medical began operations in 1997 and has grown to be one of the largest operators of specialty hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States based on the number of facilities. As of March 31, 2017, Select Medical operated 102 long term acute care hospitals and 20 acute medical rehabilitation hospitals in 27 states and 1,610 outpatient rehabilitation clinics in 37 states and the District of Columbia. Select Medical’s joint venture subsidiary Concentra operated 308 centers in 38 states. Concentra also provides contract services at employer worksites and Department of Veterans Affairs community-based outpatient clinics. At March 31, 2017, Select Medical had operations in 46 states and the District of Columbia. Information about Select Medical is available at www.selectmedical.com.

Certain statements contained herein that are not descriptions of historical facts are “forward-looking” statements (as such term is defined in the Private Securities Litigation Reform Act of 1995).  Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements due to factors including the following:

·                       changes in government reimbursement for our services due to the implementation of healthcare reform legislation, deficit reduction measures, and/or new payment policies (including, for example, the expiration of the moratorium limiting the full application of the 25 Percent Rule that would reduce our Medicare payments for those patients admitted to a long term acute care hospital from a referring hospital in excess of an applicable percentage admissions threshold) may result in a reduction in net operating revenues, an increase in costs and a reduction in profitability;

·                       the impact of the Bipartisan Budget Act of 2013, which established payment limits for Medicare patients who do not meet specified criteria, may result in a reduction in net operating revenues and profitability of our long term acute care hospitals;

·                    the failure of our specialty hospitals to maintain their Medicare certifications may cause our net operating revenues and profitability to decline;

·                    the failure of our facilities operated as “hospitals within hospitals” to qualify as hospitals separate from their host hospitals may cause our net operating revenues and profitability to decline;

·                    a government investigation or assertion that we have violated applicable regulations may result in sanctions or reputational harm and increased costs;

·                    acquisitions or joint ventures may prove difficult or unsuccessful, use significant resources or expose us to unforeseen liabilities;

·                    private third-party payors for our services may adopt payment policies that could limit our future net operating revenues and profitability;

·                    the failure to maintain established relationships with the physicians in the areas we serve could reduce our net operating revenues and profitability;

·                    shortages in qualified nurses, therapists, physicians, or other licensed providers could increase our operating costs significantly or limit our ability to staff our facilities;

·                    competition may limit our ability to grow and result in a decrease in our net operating revenues and profitability;

·                    the loss of key members of our management team could significantly disrupt our operations;

·                    the effect of claims asserted against us could subject us to substantial uninsured liabilities; and

·                    other factors discussed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), including factors discussed under the heading “Risk Factors” of our quarterly reports on Form 10-Q and of the annual report on Form 10-K for the year ended December 31, 2016.

Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the SEC, we are under no obligation to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You should not place undue reliance on our forward-looking statements. Although we believe that the expectations reflected in forward-looking statements are reasonable, we cannot guarantee future results or performance.

Investor inquiries:

Joel T. Veit

Senior Vice President and Treasurer

717-972-1100

ir@selectmedical.com

SOURCE: Select Medical Holdings Corporation

I.  Condensed Consolidated Statements of Operations

For the Three Months Ended March 31, 2016 and 2017

(In thousands, except per share amounts, unaudited)

(1)              Under the two-class method for calculating income per common share, unvested restricted stock is a separate, participating class. Income per common share and weighted average common shares outstanding exclude amounts attributed to the unvested restricted class of stockholders. Net income allocated to the unvested restricted stockholders was $0.5 million and $1.6 million for the three months ended March 31, 2017 and 2016, respectively.  Unvested restricted weighted average shares were 4,242 thousand and 3,787 thousand for the three months ended March 31, 2017 and 2016, respectively.

N/M = Not Meaningful

II.  Condensed Consolidated Balance Sheets

(In thousands, unaudited)

III.  Condensed Consolidated Statements of Cash Flows

For the Three Months Ended March 31, 2016 and 2017

(In thousands, unaudited)

IV.  Key Statistics

For the Three Months Ended March 31, 2016 and 2017

(unaudited)

(a)         Includes managed hospitals.

(b)         Excludes managed hospitals.

(c)          Net revenue per patient day is calculated by dividing specialty hospitals direct patient service revenue by the total number of patient days.

(d)         Includes managed clinics.

(e)          Excludes managed clinics.

(f)           Net revenue per visit is calculated by dividing outpatient rehabilitation clinic direct patient service revenue by the total number of visits.  For purposes of this computation, outpatient rehabilitation clinic direct patient service revenue does not include managed clinics or contract therapy revenue.

(g)          Excludes onsite clinics and community-based outpatient clinics.

(h)         Net revenue per visit is calculated by dividing center direct patient service revenue by the total number of center visits. 

V. Net Income to Adjusted EBITDA Reconciliation

For the Three Months Ended March 31, 2016 and 2017

(In thousands, unaudited)

The presentation of Adjusted EBITDA is important to investors because Adjusted EBITDA is commonly used as an analytical indicator of performance by investors within the healthcare industry. Adjusted EBITDA is used to evaluate financial performance and determine resource allocation for each of Select Medical’s operating segments. Adjusted EBITDA is not a measure of financial performance under generally accepted accounting principles (“GAAP”). Items excluded from Adjusted EBITDA are significant components in understanding and assessing financial performance. Adjusted EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, income from operations, cash flows generated by operations, investing or financing activities, or other financial statement data presented in the consolidated financial statements as indicators of financial performance or liquidity. Because Adjusted EBITDA is not a measurement determined in accordance with GAAP and is thus susceptible to varying calculations, Adjusted EBITDA as presented may not be comparable to other similarly titled measures of other companies.

The following table reconciles net income to Adjusted EBITDA for Select Medical. Adjusted EBITDA is used by Select Medical to report its segment performance. Adjusted EBITDA is defined as earnings excluding interest, income taxes, depreciation and amortization, gain (loss) on early retirement of debt, stock compensation expense, Physiotherapy acquisition costs, non-operating gain (loss), and equity in earnings (losses) of unconsolidated subsidiaries.

(a)         Other primarily includes general and administrative costs.

VI. Reconciliation of Income per Common Share to Adjusted Income per Common Share

For the Three Months Ended March 31, 2016 and 2017

(In thousands, except per share amounts, unaudited)

Adjusted net income available to common stockholders and adjusted income per common share — diluted shares are not measures of financial performance under GAAP.  Items excluded from adjusted net income available to common stockholders and adjusted income per common share — diluted shares are significant components in understanding and assessing financial performance. Select Medical believes that the presentation of adjusted net income available to common stockholders and adjusted income per common share — diluted shares is important to investors because it is reflective of the financial performance of our ongoing operations and provides better comparability of our results of operations between periods. Adjusted net income available to common stockholders and adjusted income per common share — diluted shares should not be considered in isolation or as an alternative to, or substitute for, net income, cash flows generated by operations, investing or financing activities, or other financial statement data presented in the consolidated financial statements as indicators of financial performance or liquidity.  Because adjusted net income available to common stockholders and adjusted income per common share — diluted shares are not measurements determined in accordance with GAAP and are thus susceptible to varying calculations, adjusted net income available to common stockholders and adjusted income per common share — diluted shares as presented may not be comparable to other similarly titled measures of other companies.

The following table reconciles net income available to common stockholders and income per common share — diluted shares to adjusted net income available to common stockholders and adjusted income per common share — diluted shares for Select Medical.  Adjusted net income available to common stockholders is defined as net income available to common shareholders before non-operating gain (loss) and gain (loss) on early retirement of debt.

(a)         Per share amounts for each period presented are basic weighted average common shares outstanding for all amounts except adjusted income per common share - diluted shares, which is based on diluted shares outstanding.

(b)         Represents the estimated tax benefit on the adjustments to net income.

VII. Net Income to Adjusted EBITDA Reconciliation

Business Outlook for the Year Ending December 31, 2017

(In millions, unaudited)

The following is a reconciliation of full year 2017 Adjusted EBITDA expectations as computed at the low and high points of the range to the closest comparable GAAP financial measure.  Refer to table V for the definition of Adjusted EBITDA and a discussion of Select Medical’s use of Adjusted EBITDA in evaluating financial performance and determining resource allocation. Each item of expense presented in the table is an estimation of full year 2017 expectations.