Humana Inc. has signed a definitive agreement to purchase Concentra Inc., a privately held healthcare company, for $790 million in cash.
Texas-based Concentra delivers occupational medicine, urgent care, physical therapy and wellness services from more than 300 medical centers in 42 states. In addition to its medical center locations, Concentra serves employer customers at more than 240 worksite medical facilities. The company has annual revenues of approximately $800 million.
“Concentra brings solid experience across a number of fronts that fit well with our consumer-focused strategy and will allow both organizations to provide a wide array of services to individuals needing access to convenient and affordable high-quality healthcare,” said Michael B. McCallister, Humana’s chairman of the board and CEO. “We are excited about the opportunity to acquire a strong stand-alone business that reinforces our core businesses while providing both revenue diversification and opportunities for strategic expansion longer term.”
Louisville-based Humana is one of the nation’s largest publicly traded health and supplement benefits companies.