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Sun Healthcare Group, Inc.

Sun Healthcare Group, Inc.

Reports 2011 Second-quarter Results

Sun Healthcare Group, Inc. has announced its operating results for the second quarter ended June 30, 2011 with consolidated revenues rose 3.3 percent to $487.7 million.

Results for the second-quarter period ended June 30, 2011:

• consolidated revenues rose 3.3 percent to $487.7 million, compared to the same period in 2010, driven primarily by growth in rate and skilled mix in the inpatient services segment

• consolidated adjusted EBITDAR increased 7.0 percent to $67.4 million and adjusted EBITDAR margin grew 50 basis points to 13.8 percent, compared to normalized data for the same period in 2010

• diluted earnings per share from continuing operations was $0.40 on 26.2 million weightedaverage diluted shares and

• free cash flow was $6.1 million.

Regarding the Company’s second-quarter results, William A. Mathies, Sun’s chairman and chief executive officer, stated, “Revenue growth and EBITDAR margin growth in the quarter were in line with our expectations, leading to $0.40 EPS for the quarter from continuing operations. Our focus on attracting and caring for high-acuity, short-stay patients resulted in a 70 basis point increase in skilled mix days for the quarter, compared to the second quarter of 2010. We have been particularly pleased with the performance of our hospice business line, including the integration of the recently acquired Countryside Hospice operations.” Mathies concluded, “We are reviewing the impact of the recently published CMS final rule, and I note that our $88.5 million of cash provides us with flexibility to meet the challenges that the CMS action presents.”

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