Concentra Welcomes Select Medical and Welsh Carson as New Owners
Concentra Welcomes Select Medical/Welsh Carson as New Owners
Humana, Concentra’s parent company, today announced the signing of a definitive agreement to sell Concentra to a joint venture between Select Medical Holdings Corporation (Select Medical) and Welsh, Carson, Anderson & Stowe, a private equity fund. The agreement is subject to regulatory approval and is expected to close in the second quarter of this year. In the meantime, Concentra employees will remain associates of the Humana family and Concentra’s businesses will continue to operate normally.
“We are excited about joining the Select Medical family and reuniting with Welsh Carson given our long and very successful relationship,” said Ted Bucknam, President of Concentra. “Our mission – improving America’s health, one patient at a time – remains fundamental to our success, and our commitment to provide excellent primary care and other clinical services to the employees of our employer customers, to the veterans of our military, and to consumers nationwide remains steadfast.”
Bucknam added that Concentra will provide updates on this transition as information becomes available. “Our customers should expect that we will continue to focus on providing the best service possible with minimal interruption and that this transition should be as seamless as possible to our patients, employer clients, and business partners so it can be ‘business as usual’ as we move forward.”
Humana acquired Concentra as part of a series of efforts to expand convenient, affordable high-quality health care for its membership base. These efforts also included subsequent investments in primary care platforms including owned physician practices, clinics, and medical services organizations (MSOs). As the company’s strategy has been refined over the past several years, the primary care platform has proven to better advance the company’s integrated care delivery model than Concentra’s focus on occupational injuries.