Archive - 2006

12/22/2006

Measuring Patient Outcomes Through Medical Process Management

Concentra’s Chief Medical Officer Authors White Paper

In this four-page white paper, Tom Fogarty, MD, Chief Medical Officer of Concentra, discusses the role of process management in the practice of occupational medicine. He emphasizes the expertise that Concentra’s affiliated physicians have developed by applying evidence-based medicine, by timing and sequencing treatment protocols, and measuring outcomes since 1996.

Read Dr. Fogarty’s White Paper

12/5/2006

Steve Peake Named Vice President/Chief Medical Officer of CNS

W. Tom Fogarty, M.D., Concentra’s Chief Medical Officer/Senior Vice President, has announced that Stephen T. Peake, D.Ph., M.D., has been named Vice President/Chief Medical Officer of Concentra Network Services, Inc. (CNS).

Since 2003, Dr. Peake has served Concentra in a dual role as Vice President of Medical Operations of the Southeast Zone and Medical Director of Network Services.  He also serves as the Chairman of the Pharmacy and Therapeutics Committee and as a member of the Medical Advisory Council. With this move, Dr. Peake will be fully dedicated to Concentra Network Services, providing medical leadership to its colleagues and clients.

A graduate of the University of Oklahoma College of Pharmacy, Dr. Peake received his Medical Doctorate with Distinction from the University of Oklahoma College of Medicine. He is a Diplomate of the National Board of Medical Examiners and the American Board of Anesthesiology. He is also a co-author in Low Back Pain: An Effective- Based, Biopsychosocial Model for Clinical Management. Dr. Peake has been a member of the Oklahoma State Workers’ Compensation Court’s Physician Advisory Panel and served in several capacities with the Oklahoma College of Occupational Medicine.

Concentra Network Services, Inc. is a wholly owned operating division of Concentra Inc., the Addison, Texas-based provider of workers' compensation and occupational healthcare services and specialized cost management services to the group health, auto, and disability insurance industries.

12/1/2006

Concentra Preferred Systems Satellite Office Burglarized

Information Bulletin

NAPERVILLE, IL, December 1, 2006 — On Thursday, October 26, 2006, one of the satellite business offices of Concentra Preferred Systems (CPS), along with five other businesses within the same building, was broken into and burglarized. Property stolen from the various businesses included a variety of easily transportable items, cash, and pharmaceuticals (from an unrelated doctor’s office located in the building). Among the stolen property was a lock-box containing back-up data tapes and blank data tapes from CPS’ data communications room. An analysis performed by CPS indicates the stolen tapes contain data from several client engagements that includes individual member benefit plan information.

Based on the nature of the crime and the items taken from the six businesses burglarized, law enforcement authorities believe this to be the act of common thieves looking for cash or pawnable items of value, and not the act of sophisticated criminals targeting specific data. Law enforcement authorities have launched an investigation, and efforts remain focused on the apprehension of the criminal(s) and the recovery of the stolen property. To augment those efforts, CPS engaged a team of private investigators who have been working in close coordination with local law enforcement. In addition, CPS has launched its own internal investigation, including a thorough review of additional security measures and actionable steps to prevent future occurrences.

CPS is taking all necessary steps to identify the tape contents, including hiring the Forensic and Investigative Services team of Grant Thornton LLP to validate the degree of difficulty of accessing data from the stolen tapes. This team’s conclusions include the following statement: “Restoring data from a back-up tape like the one we tested for Concentra is generally considered to be a time-consuming process requiring specialized knowledge, the proper hardware, along with the use of one of the following: the original back-up software, special diagnostic software, or proprietary software. Typically, this level of technical sophistication exceeds the capabilities of the average computer user.”

Although it has not been determined that the information has been misused or disclosed in any way, CPS has notified and continues to notify those parties who are potentially impacted and is answering any questions they may have.

“Concentra Preferred Systems takes its commitment to maintaining the security of confidential information very seriously, and we are pursuing a full investigation of this matter,” said Dan Thomas, President and CEO of Concentra Inc., the parent company of Concentra Preferred Systems. “We very much regret that this situation occurred and apologize for any inconvenience and concern that it may have caused. From the day of the break-in CPS has been diligently determining the property lost and reconstructing the data on the back-up tapes, communicating with our clients to help them assess what data may have been affected, coordinating with local law enforcement and our forensic team, and executing numerous other related tasks.”

Regarding the probability of anyone accessing the data on the tapes, Thomas stated, “Based on the combined opinions of local authorities, our own IT personnel, and the computer forensic team from Grant Thornton, CPS firmly believes that the likelihood of any actual data exposure is extremely remote.”

CPS provides outsourced, specialized cost management services, including professional claims resolution, repricing, auditing, proprietary facility UCR applications, and consultative services.

Information Contacts:

Vicki Bryant Director, Corporate Communications 214-263-8402

Andy Daniels Senior Vice President, Chief Marketing Officer 972-364-8063

 

11/2/2006

Concentra Announces Agreement To Sell First Notice Systems To The Innovation Group PLC

ADDISON, Texas, November 2, 2006 – Concentra Operating Corporation ("Concentra" or the "Company") today announced that it has signed an agreement to sell its First Notice Systems, Inc. subsidiary ("First Notice") to The Innovation Group plc ("The Innovation Group"), for $50 million cash consideration to the Company.

First Notice, headquartered in Boston, Massachusetts, currently generates approximately $20 million in annual revenue by providing first notice of loss or injury services to insurance carriers, third-party administrators and self-insured customers. First Notice was acquired by Concentra in 1997 and has operated since that time as a standalone unit within the Company's Network Services business segment.

Hassan Sadiq, The Innovation Group's CEO, said, "The acquisition of First Notice gives The Innovation Group critical mass in the U.S. and is complementary to our recently announced acquisition of SurePlan. This strategic U.S. presence, underpinned by a strong global performance, leaves the enlarged group well placed for future growth."

The Innovation Group specializes in providing outsourcing services and software solutions to insurers and other risk carriers through its international network of offices over the breadth of the administrative processes of insurers and risk carriers, including back office functions such as policy and claims management and sales.

The Innovation Group has offices in the United Kingdom, Continental Europe, South Africa, Japan, Australia and North America. The Innovation Group's U.S. operations are based principally in Connecticut, and global operations for the Group are headquartered in the United Kingdom near London.

Commenting on the announcement, Daniel Thomas, Concentra's President and CEO, said, "We believe our customers will benefit from the pairing of First Notice and The Innovation Group. We consider The Innovation Group to be a strategic partner in delivering cost-effective solutions to our clients in common." Concentra and The Innovation Group expect to complete the sale of First Notice later this year, subject to the approval of Concentra's senior lenders, the approval of The Innovation Group's shareholders, the arrangement of necessary financing by The Innovation Group, and other customary conditions.

Pursuant to the requirements of its Senior Credit Agreement, Concentra currently anticipates that it will apply approximately $25 million to $30 million of the net after-tax cash proceeds it receives from the sale toward the prepayment of a portion of its senior term indebtedness.

Concentra Operating Corporation, a wholly owned subsidiary of Concentra Inc., is dedicated to improving the quality of life by making healthcare accessible and affordable. Serving the occupational, auto and group healthcare markets, Concentra provides employers, insurers and payors with a series of integrated services that include employment-related injury and occupational healthcare, in-network and out-of-network medical claims review and repricing, access to preferred provider organizations, case management and other cost containment services.

Concentra provides its services to approximately 200,000 employer locations and more than 1,000 insurance companies, group health plans, third-party administrators and other healthcare payors. The Company has 310 health centers located in 40 states. It also operates the Beech Street and FOCUS PPO networks.

The Innovation Group plc (LSE:TIG.L) provides outsourcing services and software solutions to insurers and other risk carriers through its international network of offices. The Group has assembled a portfolio of important assets comprising a set of software-led business processes for the handling of the breadth of the administrative processes of insurers and risk carriers, including back office functions such as claims management and sales, as well as software technology for both policy and claims administration that can be both utilized in connection with the Group's outsourcing operations and implemented on a stand-alone basis.

The Group has offices in the United Kingdom, Continental Europe, South Africa, Japan, Australia and North America, and delivers services for some of the largest insurance businesses in the world, including Aviva, Auto Club of Southern California, Ford Motor Company of South Africa, Toyota (South Africa), Halifax General Insurance, The Insurance Australia Group, Jaguar Drive Plan (South Africa), AXA Insurance, Sonpo 24 Insurance (Japan) and Zurich (UK).

This press release contains certain forward-looking statements, which the Company is making in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and that the Company's actual results may differ materially from the results discussed in the forward-looking statements.

Factors that could cause or contribute to such differences include, but are not limited to, the potential adverse impact of governmental regulation on the Company's operations, changes in nationwide employment and injury rate trends, interruption in its data processing capabilities, operational, financing and strategic risks related to the Company's capital structure, acquisitions and growth strategy, possible fluctuations in quarterly and annual operations, possible legal liability for adverse medical consequences, competitive pressures, adverse changes in market conditions for the Company's services, and dependence on key management personnel. Additional factors include those described in the Company's filings with the Securities and Exchange Commission.

8/23/2006 4:27:39 PM

Occupational Health and Wellness

New Acquisition in the Jacksonville, FL Market

Concentra Medical Centers today announced that it has acquired the assets of Robert M. Chapa, M.D., P.A. d/b/a Northeast Florida Occupational Health & Wellness ("NEFOHW"), a leading occupational healthcare provider with three medical centers in Jacksonville, Florida. When completed, the transaction will strengthen the presence of Concentra’s existing network of health centers in the State of Florida.

8/8/2006 4:32:33 PM

Concentra Reports Second Quarter Results

Results Ending June 30, 2006

Concentra today announced results for the second quarter ended June 30, 2006. The Company reported consolidated Adjusted Earnings Before Interest Taxes Depreciation and Amortization ("Adjusted EBITDA") of $47,265,000 for the quarter, which reflected an increase of $2,440,000, or 5.4%, over the $44,825,000 reported during the same period in 2005. These results included $3,755,000 in professional fees and other expenses incurred in connection with the analysis and negotiation of a potential transaction with a third party. Work on this potential transaction was terminated at the conclusion of the quarter. Concentra computes Adjusted EBITDA in the manner prescribed by its bond indentures, and a reconciliation of Adjusted EBITDA to net income is provided within this press release.

5/10/2006

Concentra Reports First Quarter Results

Results ending March 31, 2006

Concentra Operating Corporation ("Concentra" or the "Company") today announced results for the first quarter ended March 31, 2006. The Company reported consolidated Adjusted Earnings Before Interest Taxes Depreciation and Amortization ("Adjusted EBITDA") of $39,011,000 compared with $39,510,000 in Adjusted EBITDA reported for the same period in 2005. Concentra computes Adjusted EBITDA in the manner prescribed by its bond indentures, and a reconciliation of Adjusted EBITDA to net income is provided within this press release. More information can be found in the full press release.

4/27/2006

First Quarter Conference Call

To Be Broadcast on May 10, 2006

Concentra Operating Corporation ("Concentra") today announced that it will provide an online Web simulcast of its first quarter 2006 earnings conference call on Wednesday, May 10, 2006.  The Company's results for the first quarter ended March 31, 2006, will be released after the market closes on May 9.

4/3/2006

Mission, Vision, Values

Concentra Articulates Mission, Vision and Values

Since our founding 1979, Concentra's corporate culture has evolved and been enriched by the addition of new leadership and companies. But all along it has operated by a core set of values: a fundamental commitment to integrity, a dedication to improving healthcare, a focus on positive outcomes for patients and customers, and a commitment to excellence, among others. Concentra has always placed emphasis on creating successful outcomes for our various customer groups, including patients, employers, administrators, and payers. Our company’s mission, vision, and core value statements build on that focus.

3/24/2006

Credit Suisse Global Leverage Finance Conference

Concentra to Participate and Present

Concentra Operating Corporation ("Concentra" or the "Company") today announced that the Company will participate in the upcoming Credit Suisse Global Leveraged Finance Conference, which takes place March 28-30 in Phoenix, Arizona. Representing Concentra will be Daniel J. Thomas, CEO of Concentra, and Thomas E. Kiraly, CFO, who will make a presentation on March 29.

3/18/2006

Concentra and Santa Fe Community

Mourn Tragic Loss

This is a very difficult time for our Company and we are all very saddened by this tragic event. We are making every effort to support the family members, as they are our primary concern at this time. In the immediate future, we will complete the necessary assessments to re-open our Medical Center and resume operations.

2/1/2006

2005 Financial Results

Conference Call

Concentra Operating Corporation ("Concentra") today announced that it will provide an online Web simulcast of its year-end 2005 earnings conference call on Wednesday, February 15, 2006. The Company's results for the fourth quarter and year ended December 31, 2005, will be released after the market closes on February 14.

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