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INTEGRATED HEALTH SERVICES ANNOUNCES RECORD EARNINGS

 HUNT VALLEY, Md., April 23 /PRNewswire/ -- Integrated Health Services, Inc. (NASDAQ: IHSI), today announced record revenues and earnings for the first quarter ended March 31, 1993.
 Net revenues for the quarter totaled $57.6 million, representing a 34 percent increase over the first quarter of 1992. Net earnings increased 79 percent to $3.7 million from $2.06 million in the first quarter of 1992. Earnings per share were $.30, which reflects a 36 percent increase from $.22 per share for the first quarter of 1992.
 "Our strong financial quarter, margins and operating statistics reinforce our position as a definitive leader in subacute care," said Robert N. Elkins, M.D., chairman and chief executive officer. "The company's performance also reflects our unique commitment and focus to subacute care.
 "We believe our MSUs offer quality cost-effective care that will continue to be recognized by managed care and other payors both now and in the future as part of the solution to rising healthcare costs," said Dr. Elkins. He also outlined other highlights for the quarter:
 -- Revenues from higher margin specialty medical services increased 65 percent to $27.3 million from $16.6 million in the first quarter of 1992.
 -- IHS formed a partnership with the Tutera Group of Kansas City, Mo., which operates over 8,700 beds. IHS has an exclusive right to develop subacute services and provide ancillary services in the Tutera Group facilities.
 -- IHS acquired a 93-bed facility in Des Moines, Iowa, and added three management contracts representing 558 beds. In April the company also acquired a 142-bed facility in Charlotte, N.C.
 IHS is the leading provider of subacute care which uses its Medical Specialty Unit (MSU) program to provide a wide range of subacute stage medical and rehabilitative services traditionally given in an acute care hospital. Patients who are medically stable but require sophisticated monitoring and therapy receive specialized care such as ventilator therapy, wound management and post-operative care. The MSU setting is both cost effective and less institutional. IHS currently operates 65 facilities nationwide with more than 8,500 beds including a 676-bed network of MSU beds in 35 specialized units.
 INTEGRATED HEALTH SERVICES, INC.
 Three months ended March 31 1993 1992
 Revenues $57,555,000 $43,044,000
 Pre-tax earnings 6,058,000 3,317,000
 Net earnings 3,695,000 2,059,000
 Interest add-back for convertible
 debentures 1,117,000 --
 Net earnings for EPS $ 4,812,000 $ 2,059,000
 Earnings per common share:
 Net earnings -- primary $0.30 $0.22
 Net earnings -- fully diluted $0.30 $0.22
 Weighted average shares -- fully
 diluted 16,096,000 9,449,000
 -0- 4/23/93
 /CONTACT: Robert N. Elkins, M.D., chairman, CEO and president, or Marc B. Levin, senior vice president of IHS, 410-584-7050; or Susan A. Noonan of Noonan/Russo Communications, 212-979-9180, for IHS/
 (IHSI)


CO: Integrated Health Services, Inc. ST: Maryland IN: HEA SU: ERN

PS-GK -- NY020 -- 9922 04/23/93 09:42 EDT
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Date:Apr 23, 1993
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