Humana to sell Concentra subsidiary for $1 billion - WDRB 41 Louisville News

Humana to sell Concentra subsidiary for $1 billion

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LOUISVILLE, Ky. (WDRB) -- Louisville-based Humana Inc. said Monday it plans to sell Concentra, an occupational health and physical therapy provider, for $1.055 billion.

Humana, a health insurer, bought Concentra in 2010, but the company "did not ultimately align with Humana's strategy as well as we had originally anticipated," Humana CEO Bruce Broussard said in a news release.

Humana said it's still interested in owning primary care providers to serve its insured members, but Concentra wasn't the right fit.

"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," the company said in the news release.

The buyer is a joint venture between Select Medical Holdings Corp., which operates specialty hospitals and outpatient rehabilitation clinics, and Welsh, Carson, Anderson & Stowe XII, L.P., a private equity fund.

The news release calls Concentra "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."

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