Humana Inc. has completed its sale of the stock of its wholly-owned subsidiary Concentra Inc. to MJ Acquisition Corporation for over $1 billion in cash.
MJ Acquisition Corporation is a joint venture between Select Medical Holdings Corporation, a leading operator of specialty hospitals and outpatient rehabilitation clinics in the U.S., and Welsh, Carson, Andrew & Stowe XII, L.P., a private equity fund.
The transaction was announced in March 2015 and was pending regulatory approval.
Concentra is one of the nation’s largest providers of occupational health, urgent care and physical therapy services to employers and consumers across the U.S. treating over 14 percent of all work-related injuries nationwide. Humanaacquired Concentra in December 2010.