OBJECTIVE: To evaluate the clinical and economic outcome of a Cardiopulmonary and Metabolic Rehabilitation Program (CPMR) created by an HMO. METHODS: The sample was comprised of 96 clients, divided into two groups of 48 individuals (treatment group--TG, individuals who participated in the CPMR program, and control group--CG, individuals who did not participate in the program) of both genders, with age ranging between 54 and 79 years. Training time of the TG was 22 (+/-3) months. To assess the clinical outcome before and after CPMR, exercise tolerance, plasma lipoprotein profile (TC, LDL-C, HDL-C, TC/HDL-C and triglycerides), resting blood pressure (BP), and body composition (Body mass index--BMI and Waist-to-hip ratio--W/HR) were determined. RESULTS: The TG presented the following results in the pre and post CPMR assessment, respectively: TC (mg/dL) 242.5 (+/-48,32) and 189.47(+/-39.83); LDL-C (mg/dL) 162(+/-37.72) and 116.3(+/-33.28); HDL-C (mg/dL) 46.5(+/-8.59) and 57.8(+/-10.36); Tg (mg/dL) 165.15(+/-90.24) and 113.29(+/-54.92); TC/HDL-C 5.42 (+/-1.10) and 3.35 (+/-0.81); VO2 peak (mL/Kg/min) 26.92 +/- 7 and 32.64 +/- 5.92; BMI 29.35 (+/-3.93) and 28.12 (+/-3.55) for women and 29.17 (+/-5.14) and 27.88 (+/-4.83) for men; W/HR 0.93(+/-0.05) and 0.94(+/-0.04) for women and 0.93(+/-0.07) and 0.92(+/-0.06) for men; BP (mmHg) 151(+/-13.89) and 132(+/-9.56); DBP (mmHg) 83(+/-8.07) and 77(+/-5.92); monthly expenses CG (R$) 8,840.05 (+/-5,656.58) and 8,978.32 (+/-5,500.78); monthly expenses TG (R$) 2,016.98 (+/-2,861.69) and 1,470.73 (+/-1,333.25). CONCLUSION: In the group undergoing the CPMR Program, favorable clinical changes were observed in relation to the plasma lipoprotein profile, blood pressure, and exercise tolerance, with no relation to changes in medications.