Conference Call:        Today, Thursday, August 6, 2009 at 10:00 a.m. EDT   Dial-in Numbers:        866-395-2657 or 706-902-0717 (international)        Webcast / Replay URL:   www.integramed.com or www.earnings.com              Phone Replay:           800-642-1687 or 706-645-9291 through August 13      Conference ID#:         20509862                                             -------------------------------------------------------------------------------  

IntegraMed America, Inc. (NASDAQ: INMD), the nation's leading provider of specialty healthcare services in emerging, technology-focused segments, today announced its Q2 2009 revenue increased 13% to $56.1 million, contribution increased 21% to $5.5 million, and net income rose 23% to $1.1 million, or $0.13 per share on a diluted basis, versus Q2 2008.

IntegraMed's strong Q2 2009 performance reflects continued consumer demand across IntegraMed's Fertility Centers, Consumer Services and Vein Clinics segments as well as improved contribution margins from Fertility Centers and Vein Clinics.

                                                                                                                                                                        Summary Financial Results (in thousands, except per share data)                                                                                                                                 Three Months Ended 6/30/09   Three Months Ended 6/30/08(1)   % Change   Six Months Ended 6/30/09   Six Months Ended 6/30/08(1)   % Change   Revenue:                                                                                                                                                              Fertility Centers         $37,290                      $35,051                         +6%        $73,574                    $67,797                       +9%        Consumer Services         5,004                        4,612                           +8%        10,230                     8,635                         +18%       Vein Clinics              13,821                       10,062                          +37%       24,667                     18,904                        +30%       Total Revenue             $56,115                      $49,725                         +13%       $108,471                   $95,336                       +14%       Contribution:                                                                                                                                                         Fertility Centers         3,057                        2,570                           +19%       5,699                      4,874                         +17%       Consumer Services         1,161                        1,255                           -7%        2,674                      2,320                         +15%       Vein Clinics              1,282                        713                             +80%       2,036                      1,035                         +97%       Total contribution        $5,500                       $4,538                          +21%       $10,409                    $8,229                        +26%       G&A Costs                 $3,431                       $2,735                          +25%       $6,569                     $5,098                        +29%       Net Interest expense      202                          297                             -32%       423                        576                           -27%       Income before Inc Taxes   1,867                        1,506                           +24%       3,417                      2,555                         +34%       Income Taxes              753                          602                             +25%       1,382                      1,030                         +34%       Net income                $1,114                       $904                            +23%       $2,035                     $1,525                        +33%       EPS                       $0.13                        $0.10                           +30%       $0.23                      $0.18                         +28%       Diluted shares            8,831                        8,684                           +2%        8,829                      8,652                         +2%         -------------------------------------------------------------------------------  

(1) As noted in our 2008 Form 10-K, IntegraMed's 2008 results have been restated to reflect an accounting policy change implemented in Q1 2009 with respect to the timing of revenue recognition for the Attain IVF program within the Consumer Services Division.

IntegraMed's Chief Executive Officer, Jay Higham, commented, "IntegraMed delivered solid second-quarter results despite the ongoing economic weakness. Our Vein Clinics segment continued to post strong top- and bottom-line growth, confirming healthy demand for our vein care services as well as our strategy to diversify our business into this specialty in 2007. Our Fertility Center business also contributed to our improved Q2 performance, as we were able to leverage the segment's modest top-line growth directly to the bottom line.

"We have, however, recently seen a slight deceleration in Fertility Center revenue growth, reflecting both the impact of the economy as well as demographic trends we have noted for several years. We also saw some softening in our Consumer Services segment as we experienced a mild decline in Attain IVF Program volume, largely due to the impact of our move to new third-party provider of consumer credit for this program. We are working to address this situation and are confident that we will be able to improve the availability and cost of third-party patient financing over the coming months.

"Looking across the business, we remain bullish on our prospects and committed to expanding our fertility business via acquisitions and growing our Vein Clinics business via new clinic openings. The silver lining of the current environment is that it has helped expand our base of dialogues with potential acquisition targets in fertility, and we are achieving a range of cost benefits and concessions in the build-out of new Vein Clinics."

John Hlywak, CFO of IntegraMed, added, "We are pleased to report that our ongoing cost management efforts have reduced operating expenses as a percent of sales by 70 basis points for the quarter, compared to the same quarter in the prior year. Additionally, we are continuing to see the benefit from the strategic investments made in our personnel and business infrastructure over the past year as total contribution grew at a faster rate than revenue. While many of our investments are reflected in ongoing G&A, which increased by 25% over last year, we held our G&A levels to 62% of contribution, roughly in line with last year."

  Fertility Centers                                                                                                                                               Q2 2009   Q2 2008   Change    % Change       Revenue:              $37.3M    $35.1M    + $2.2M   +6%            Operating Income:     $3.1M     $2.6M     +$0.5M    +19%           New Patient Visits:   7,087     6,516     +571      +9%            IVF Cycles:           3,547     3,430     117       +3%         -------------------------------------------------------------------------------  

Fertility Center revenue grew 6% in Q2 ˜09 versus Q2 '08 and increased 3% versus Q1 '09. The year-over-year improvement was mainly driven by an increase in new patient visits at existing centers as well as from the contribution of revenue from the addition of two new centers - Southeastern Fertility in April 2008 and Arizona Reproductive Medical Associates in July 2008. The growth in new patient visits in Q2 '09 continued to exceed the growth rate of the overall industry, though it did reflect some moderation in demand growth that is attributable to the prolonged recession. These factors served to more than offset a reduction in business at one of our top fertility centers as a result of a previously disclosed contract loss with one of the center's third-party payers.

Fertility Center contribution margin increased to 8.2% in Q2 '09 compared to 7.3% in Q2 '08, reflecting aggressive cost controls as well as growing operating leverage obtained from recently added centers.

IntegraMed has the most extensive consolidated network of fertility centers in the U.S., spanning across 57 locations in 13 major markets. IntegraMed continues to target the acquisition of one or two mid-sized fertility center contracts each year and is currently in dialogue with a range of prospective centers and remains confident in its ability to achieve this goal.

  Consumer Services (Attain IVF Program)                                                                                                                  Q2 2009   Q2 2008   Change   % Change       Revenue:            $5.0M     $4.6M     +$0.4M   +8%            Operating Income:   $1.2M     $1.3M     -$0.1M   -7%            Applications:       519       546       -27      -5%            Enrollments:        239       280       -41      -15%        -------------------------------------------------------------------------------  

Consumer Services revenue, which principally reflects revenue from the company's Attain In Vitro Fertilization (IVF) program, grew by 8% in Q2 '09 versus Q2 '08 and declined 4% versus Q1 ˜09. Contribution margin in the Consumer Services sector declined to 23% in Q2 '09 versus 27% in Q2 '08 and 29% in Q1 '09. The decrease in contribution margin reflects a shift in revenue timing related to higher than normal pregnancy rates during Q1 that affected revenue levels in Q2 2009. Looking at segment performance on a six-month basis, revenue and contribution margin were on trend.

The results reflect a relatively steady level of outcomes and a slight decline in success rates versus the year ago period. A transition during Q2 '09 to a new third-party lender for Attain IVF patients and a related tightening of lending standards and higher interest rates caused a decline in new patient enrollments as well as a reduction in the ratio of enrolled patients to applications from 51% in Q2 '08 to 46% in Q2 ˜09.