The aim of the current study was to examine the experiences of cardiac rehabilitation (CR) patients within the framework of psychological loss. All participants in this study reported experiencing losses of some nature, some of which were tangible and others less so. However, these do not appear to be strictly independent from each other in that tangible losses, such as loss of income, were underpinned by intangible losses, such as loss of self-esteem. For CR patients, it seems that the losses reported are experienced at more than one level. The first is an externally visible and objectively quantifiable level (for example, loss of occupation), whereas the second is a more symbolic, phenomenologically based level (for example, loss of purpose as previously defined through one's occupational role). The CR program examined in this study helped patients to effectively deal with these losses and to experience additional developmental gain.