Humana to Purchase Concentra
Through its affiliated clinicians, Concentra delivers occupational medicine, urgent care, physical therapy and wellness services to workers and the general public from more than 300 medical centers in 42 states.
Nearly three million Humana medical members live near a Concentra center. In addition to its medical center locations, Concentra serves employer customers by providing a broad range of health advisory services and operating more than 240 worksite medical facilities.
Annual revenues for Concentra approximate $800m. The transaction is subject to certain regulatory approvals and is anticipated to close in December 2010.
Humana said that its financial guidance for the years ending December 31, 2010 and December 31, 2011 exclude the impact of this pending transaction. Concentra is expected to be slightly accretive to Humana's earnings for the year ending December 31, 2011.
Michael McCallister, chairman of the board and CEO of Humana, said: “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 health care.
“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.”
James Greenwood, CEO of Concentra, said: “This combination with Humana is an excellent opportunity to expand service to patients and employers, as well as enhance access to convenient medical care for patients in communities nationwide.
“Concentra’s focus on evidence-based, cost-effective medical care and a service-driven culture parallels that of Humana and ultimately results in tremendous opportunity across the combined enterprise.”
Will the move benefit Humana?
Have your say and discuss with your peers on the InfoGrok community.
Participate by posting your comments now.