Rehabcare 8K Regulation FD Disclosure | RHB 10 Sep 09

Investor Presentation

Second Quarter 2009

Exhibit 99

n Leading, longstanding provider of post-acute services

n Established in 1982

n Largest contract manager of physical rehabilitation programs in the U.S., partnering with
over 1,200 hospitals, skilled nursing facilities and other long-term care providers

Investment Highlights
The company

n Solid track record of growing
revenue and earnings both
organically and through
acquisitions

2006-08

10.2%

21.3%

	FY2006	FY2007	FY2008	1H2009
DSO	78	72	66	61
CFFO	$19	$52	$49	$27
Net Debt1	$111	$64	$30	$9

1 Total debt less cash

n Strong cash flow

n Allows continued evaluation of acquisition
opportunities

n Greater flexibility with potential partners
searching for capital resources

n Proven ability to adapt to market and regulatory changes

ü PPS

ü 60% Rule

ü Part B Therapy Caps

ü LTACH 25% rule

Investment Highlights
The market

n Highly fragmented and growing market

n Expenditures for post-acute services:

n Projected to increase 150% by 2016

n Represents 15% of Medicare fee-for-service spending

n First wave of baby boomers enter Medicare in 2011

n Post-acute continuum capabilities

n Offers flexible solutions to clients and partners

n Gives us the ability to withstand market
pressures in any one segment

n Positions us to capitalize on proposed bundled
or episodic payment system

RehabCare at a glance
Operating divisions

n $477 mm - 61% of revenue

n 1,065 skilled nursing facility (SNF)
programs in 37 states

n 7.8 mm annual patient visits

n Polaris Group - consulting for long
-term care facilities

n VTA Management Services -
therapy and nurse staffing for
New York

Skilled Nursing Rehabilitation

Services (SRS)

n $173 mm - 22% of revenue

n 156 hospital-based programs

n 32 states

n 47,500 inpatient rehabilitation
facility (IRF) and skilled nursing
unit discharges/year

n 1.1 mm annual outpatient visits

n $129 mm - 17% of revenue

n 7 long-term acute care hospitals
(LTACHs), 6 inpatient
rehabilitation facilities (IRFs)

n 1 IRF minority owned1

n 8 states 2

n 628 beds 2

n 6,500 annual patient discharges

$779 mm consolidated revenues for 12 months ending 6/30/09

1 Not included in consolidated revenues

2 These statistics include the minority-owned rehab hospital in Kokomo, IN

Hospital Rehabilitation Services
(HRS)

Hospital Division

(HD)

n RehabCare delivers services across the post-acute continuum of care, providing the most
appropriate discharge destination for acute patients in need of restorative care

n Less capital intensive/more flexible business model built around partnering with hospitals, SNFs and
health systems through management contracts and joint ventures (where RehabCare has majority
interest)

SNF/IRF/LTACH

No post
acute care

Hospice/Home Health

Source: MedPAC, equity research estimates, June 2008

Patient Discharge Destination

Overview of post-acute settings

65%

13%

Acute care hospital

RehabCare at a glance
The back door to acute care providers

Point-of-Service

Data Capture

n Rolling out iTouch/iPhone
technology across divisions

n Assures accuracy of
coding and patient care
time

n Automates/speeds patient
screening process

1Preserving Patient
Access to Therapy
Tool (PPATT)

n Provides clinical pathways
for common diagnoses of
the long-term care patient

n Addresses patient goal
setting, coding guidelines
and care management of
services

Therapy Management

System

n Converting to web-based
platform

n Tracks and trends functional
outcomes by patient type

n Assesses patient gains from
evaluation to discharge

n Allows therapists to plan the
amount of care provided at
point of service

Dashboard Report

n Provides site-level, real-
time reporting on key
performance indicators

n Measures against
established benchmarks
and provides program
rankings (i.e. performance
vs. peers)

n DevelopU: Online learning
management system that
offers clinical in-services
and course content for
RehabCare clinicians and
host facilities

1Professional
Development

1Specialty
Programming

n Moving Forward: Patient
education series for
common diagnoses

n Specialty program offerings
in areas such as wellness,
spinal dysfunction and falls
prevention

n Creating Stroke Centers of
Excellence

RehabCare at a glance
Ensuring clinical quality

n Manages rehab programs for SNFs

n Each Medicare-certified SNF is required to provide physical, speech and occupational therapy, but many lack the
management know-how and/or scale to effectively manage a program

n RehabCare provides a compelling value proposition to our SNF partners

n Access to advanced technology platform that provides for more efficient utilization of therapists and management
resources, improved patient outcomes and increased SNF reimbursement

n Broader array of services

n Better access to scarce therapist labor pool

n Market size¹

n 15,800 Medicare-certified skilled nursing facilities

Source: Information available from public filings or from company websites

¹ Source: MedPAC and Congressional Budget Office, June 2008

Competitive Landscape — # of facilities served

Self-

operated

11,000+

1,065

1,000

700

571

450

400

300

188

Skilled Nursing Rehabilitation Services
Division overview

n Significant same store revenue and margin growth since completion of Symphony integration in 2007

n Expect 6.5% - 7.5% operating earnings margins for the remainder of 2009, driven by 6% - 8% year-over
-year same store revenue growth; flat to modest unit growth in 2009

n SNF final rule for FY2010 Medicare reimbursement will result in a net 1.1% rate decrease for our
clients; House reform bill includes extension of Part B Therapy Caps through 2011

n Focused on implementing next generation of point-of-care technology and web-based therapy
management system

YOY growth: 30.9% 35.5% 49.9% 24.4% 5.6% 2.9% 8.8%

Same store: 9.9% 8.4% 1.0%¹ 7.1%¹ 12.4% 12.2% 10.2%

Revenue ($mm)

Note: Includes Symphony acquisition as of July 1, 2006

¹Same store analysis does not include Symphony

% Margin: 6.0% 5.5% (0.3%) 1.7% 5.6% 4.5% 7.9%

Operating Earnings ($mm)

Skilled Nursing Rehabilitation Services
Performance/outlook

Competitive Landscape

n Manages hospital-based IRFs and outpatient therapy programs on a contract basis, providing our partners
with:

n Improved clinical outcomes

n Ability to attract ≈ 30% admissions from external sources

n Broader clinical programming (brain, stroke, spinal dysfunction)

n Better access to scarce therapist labor pool

n Better compliance (60% rule, RAC, 3-hour rule)

— Enhanced denials management

Source: Information available from public filings or from company websites

5,000 acute care
hospitals

1,000 IRFs

Have IRF

No IRF

150 outsourced

Hospital Rehabilitation Services
Division overview

n Revenue and earnings declined due to implementation of 75% Rule in 2004; freeze of rule at 60% in
January 2008 gave clear runway for growth

n Expect 15% - 17% operating earnings margin and flat unit growth for the remainder of 2009 and 3% -
5% year-over-year growth in IRF same store discharges in 2009

n Focused on implementing point-of-care technology to enhance patient capture and productivity,
achieving larger system sales and becoming the post-acute solution for providers under bundled
payment scenario

$191

$190

$180

$164

$166

$80

$88

2004

2005

2006

2007

2008

1H2008

1H2009

YOY growth: 2.6% (0.5%) (5.3%) (8.7%) 0.9% (5.5%) 9.7%

IRFs: 113 120 115 107 113 107 111

Revenue ($mm)

¹includes $1.2 mm pretax charge from a bad debt write-down related to an
outpatient transaction

Operating Earnings ($mm)

% Margin: 17.3% 11.9% 13.2% 14.0% 13.3% 12.4% 15.8%

Hospital Rehabilitation Services
Performance/outlook

n Market Size:

n 215+ IRFs

Freestanding IRFs

LTACHs (Freestanding and HIHs)

Competitive Landscape

n Market Size:

n 460+ LTACHs

Source: Information available from public filings or from company websites

¹ Includes minority-owned hospital

Hospital Division
Market overview

n Establishing joint venture partnerships with market-leading acute care providers that also
will facilitate bundling model

n Evaluating acquisition opportunities that will accelerate growth and achieve critical mass

Wholly Owned

Joint Venture

Hospital Division
Growth strategy

n Division has struggled to maintain traction while absorbing start-up losses, infrastructure investments
and the impact of operational issues at individual facilities across a small base of hospitals

n Expect total year operating losses of $12.5 - $14.0 mm (including ≈ $3 mm in merger/acquisition related
costs); revenue of $155 - $165 mm for full year; breakeven operating earnings run rate by the end of the
first half of 2010

n Final rule for FY2010 Medicare reimbursement will result in 2.8% rate increase for our IRFs, net 1.4%
increase for our LTACHs

n Focused on implementing revenue enhancement/cost reduction initiatives; achieving critical mass

Revenue ($mm) and discharges

Operating Earnings and Start-up Losses ($mm)

1Includes a $1.5 mm pretax charge related to the cancellation of a planned
acquisition and development project

Hospital Division
Performance/outlook

Revenue ($mm)

Net Earnings ($mm)

EPS: $0.42 $0.731 $1.052 $0.51 $0.87

¹includes a $0.17 per diluted share impairment charge on an intangible asset

²includes $0.09 per diluted share in charges related to a bad debt write-down of
an outpatient transaction and cancellation of a planned acquisition and
development project

n Anticipate strong consolidated revenue and net earnings growth for the
full year 2009

Consolidated financial summary

n Cash flow from operations improved to $18 mm in Q209 (net debt fell from $19 mm at
3/31/09 to $9 mm at 6/30/09)

n Days sales outstanding improved from 64 days at 3/31/09 to 61 days at 6/30/09

n Expect continued strong operating cash flow in 2009 with DSO of approximately 60 - 65
days

n Capital expenditures anticipated to be approximately $6 mm for the remainder of 2009,
primarily related to information systems investments

Cash and Cash Equivalents

Total Assets

Total Debt

Stockholders’ Equity

Percent of Debt to Total Capital

Percent of Net Debt (debt less cash) to
Total Capital

($mm)

$ 38.2

452.5

57.0

277.4

17%

$ 23.6

441.8

32.7

286.3

10%

3/31/09

6/30/09

Consolidated balance sheet

n Expand reach in post-acute space through both organic and acquisitive
growth

n Leverage joint venture partnerships and our unique continuum model to
facilitate opportunities under bundled payment system

n Utilize IT to optimize performance and set us apart in the marketplace

n Enhance focus on clinical outcomes through cutting-edge technology and
commitment to excellence

Helping People Regain Their Lives

2010 strategic direction

Forward-looking statements have been provided pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Such statements
are based on the Company’s current expectations and could be affected by
numerous factors, risks and uncertainties discussed in the Company’s filings with
the Securities and Exchange Commission, including its most recent annual report
on Form 10-K, subsequent quarterly reports on Form 10-Q and current reports on
Form 8-K. Do not rely on forward looking statements as the Company cannot
predict or control many factors that affect its ability to achieve the results estimated.
The Company makes no promise to update any forward looking statements
whether as a result of changes in underlying factors, new information, future events
or otherwise.

Safe Harbor

Rehabcare (RHB) Inactive 8-KRegulation FD Disclosure