Concentra Announces Sale of Valor Healthcare
ADDISON, Texas — September 1, 2020 — Concentra, the nation’s largest provider of occupational medicine, today announced that it has entered into a Stock Purchase Agreement and sold its Community Based Outpatient Clinics (CBOCs) to an affiliate of Trive Capital, a Dallas-based private equity firm.
Valor Healthcare operates more than 35 CBOCs in the United States as a contractor for the U.S. Department of Veterans Affairs. It provides a full range of medical services to veterans tailored to the specific needs of local VA medical centers, including primary care, behavioral health, diagnostics, laboratory, telehealth and more.
“It has been an honor and a pleasure to work alongside Dr. Scott Wise and all of the colleagues at Valor, especially knowing they work tirelessly to improve the lives of veterans who have given so much to our country,” said Concentra Chairman, President and CEO Keith Newton.
“Trive firmly believes in Valor Healthcare’s mission, vision and future potential,” said Trive Managing Partner Conner Searcy. “And we look forward to partnering with Valor as they continue serving the needs of veterans in the years ahead.”
Cain Brothers served as financial advisor and Dechert LLP as legal advisor to Concentra on the transaction.
# # #
Concentra, a division of Select Medical, is a leading health care company focused on improving the health of America’s workforce, one patient at a time. More than 11,000 Concentra colleagues provide occupational medicine, urgent care, physical therapy, and wellness services from more than 530 medical centers and 130 onsite medical facilities across 44 states. www.Concentra.com