Select Medical Corp., Mechanicsburg, Pa., said successful integration of Kessler Rehabilitation Corp. helped lead to a 104% increase in first-quarter net income to $29.6 million, or 27 cents per share, from $14.5 million, or 15 cents per share, for the year-ago period. Earnings per share reflect a two-for-one stock split in December 2003. Net operating revenue rose 35.1% to $422.0 million. Select Medical operates 79 long-term acute-care hospitals, four acute medical rehabilitation hospitals and 777 outpatient rehabilitation clinics. It completed its acquisition of privately held Kessler, West Orange, N.J., in September 2003. -- by Julie Piotrowski
Acquisition helps boost Select Medical's income
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