Welcome to our dedicated page for CONCENTRA GROUP HOLDINGS PAREN news (Ticker: CON), a resource for investors and traders seeking the latest updates and insights on CONCENTRA GROUP HOLDINGS PAREN stock.
Concentra Group Holdings Parent, Inc. (NYSE: CON) generates a steady flow of news as a major participant in U.S. occupational health and employer-focused medical services. Company announcements frequently highlight the expansion of its national network of occupational health centers and onsite health clinics, financial performance updates, and developments in governance and data strategy. For readers tracking CON news, these items provide insight into how the company is growing its footprint and managing its role as a large-scale provider of workplace health services.
News releases often cover the opening of new medical centers in markets such as Hialeah, Florida; Corona, California; and Union City, Georgia. These updates describe the services offered at new locations, including work injury care, physical therapy, drug testing, DOT physical exams, pre-placement exams, and other employer-related health services, as well as telemedicine for minor work injuries through Concentra Telemed. Such stories illustrate how Concentra extends access to occupational health services for employers and employees in additional regions.
Investors and observers will also find regular coverage of Concentra’s quarterly financial results, including revenue trends, patient visit metrics, and the growth of its network of occupational health centers and onsite health clinics. Related announcements may include dividend declarations, share repurchase authorizations, and commentary from company leadership on strategy, acquisitions, and technology investments.
Additional news items focus on corporate actions such as the acquisition of Pivot Onsite Innovations, which expanded Concentra’s onsite health clinics business, and the appointment of new board members and a Chief Data, Analytics, and Artificial Intelligence Officer. Together, these updates provide a detailed view of how Concentra is evolving its operations, governance, and data capabilities within the occupational health sector. This news page brings these developments together in one place for those following CON.
Concentra (NYSE: CON), the largest U.S. occupational health services provider, reported strong Q4 and full-year 2024 results alongside the completion of Nova Medical Centers acquisition. Q4 2024 highlights include:
- Revenue increased 5.5% to $465.0M
- Net income of $22.8M with EPS of $0.17
- Adjusted EBITDA up 13.6% to $77.5M
- Patient visits at 2.99M (46,797 per day)
Full Year 2024 showed revenue growth of 3.4% to $1.9B, with net income of $171.9M and EPS of $1.46. The company maintained strong liquidity with $183.3M cash balance.
Nova Medical Centers Acquisition: Effective March 1, 2025, Concentra acquired Nova for $265M, adding 67 medical centers and expanding to over 770 total facilities. The deal was financed through new debt, credit facility, and cash.
2025 Outlook: Concentra projects revenue of approximately $2.1B and Adjusted EBITDA between $410M-$425M. The company declared a quarterly dividend of $0.0625 per share, payable April 1, 2025.
Concentra (NYSE: CON) has scheduled the release of its fourth quarter and full year 2024 financial results for Monday, March 3, 2025, after market close. The company will host a conference call to discuss these results on Tuesday, March 4, 2025, at 9 a.m. Eastern Time.
The conference call will be available as a live webcast through the company's website and a dedicated webcast link. An audio-only version and Q&A session will be accessible via toll-free (888-506-0062) and international (973-528-0011) dial-in numbers. A replay of the webcast will be made available shortly after the call.
Concentra (NYSE: CON) has released preliminary financial results for Q4 and full year 2024, announcing plans to acquire Nova Medical Centers for $265 million in Q1 2025. The acquisition will add 67 centers across five states, expanding Concentra's network to over 770 locations in 42 states.
Key Q4 2024 metrics include revenue of $465.0 million (+5.5% YoY), net income of $20.6-22.6 million (vs $28.9M in Q4 2023), and Adjusted EBITDA of $77.5 million (+13.6% YoY). Full-year 2024 showed revenue of $1,900.2 million (+3.4% YoY) and net income range of $169.7-171.7 million.
Looking ahead to 2025, Concentra projects revenue of approximately $2.1 billion and Adjusted EBITDA between $410-425 million, including the Nova acquisition impact. The company plans to maintain a net leverage ratio of approximately 3.5x.
Concentra, the nation's leader in occupational medicine, has announced the opening of a new medical center in Northlake, Texas, at 18303 IH35W. This new center, named Concentra Northlake Alliance, will cater to the rapidly growing Alliance area in the Dallas-Fort Worth (DFW) market. According to Robert Hassett, DO, MPH, Senior Vice President of Concentra Medical Operations, the new center will support the growth of Alliance employers by providing comprehensive workforce health services.
Concentra Northlake Alliance will offer a range of services including work injury care, physical therapy, drug testing, DOT physical exams, pre-placement exams, and other employer-related health services. Additionally, telemedicine for minor work injuries will be available through Concentra's proprietary platform, Concentra Telemed.
Concentra operates more than 550 locations nationwide and is known for providing quality occupational health and urgent care services. This expansion strengthens Concentra's presence in Texas, enabling the company to meet the increasing demand for occupational health services in the region. Concentra serves over 50,000 patients daily across 552 occupational health centers in 41 states and 157 onsite health clinics at employer worksites in 36 states.
Concentra, the nation's leading occupational medicine provider, has announced the opening of a new medical center in Knoxville, Tennessee. Located at 104 North Seven Oaks Drive, Concentra Knoxville West will offer work injury care, physical therapy, drug testing, DOT physical exams, pre-placement exams, and employer-related health services, including telemedicine via Concentra Telemed.
The expansion strengthens Concentra's presence in Tennessee and adds to its network of nearly 550 locations nationwide. As of June 30, 2024, the company operates 547 occupational health centers across 41 states and 154 onsite health clinics at employer worksites in 37 states, serving over 50,000 patients daily through its workforce of 11,000 colleagues and affiliated medical professionals.
Concentra (NYSE: CON) announced the completion of its spin-off from Select Medical through the distribution of 104,093,503 shares, representing 81.7% of Concentra's outstanding common stock. Select Medical stockholders received 0.806971 Concentra shares for each Select Medical share held as of November 18, 2024. Concentra, the largest U.S. occupational health services provider, operates 549 health centers and 156 onsite clinics across 45 states, serving over 50,000 patients daily with 11,000 colleagues and affiliated medical professionals.
Select Medical Holdings (NYSE: SEM) has completed the distribution of 104,093,503 shares (81.7%) of Concentra (NYSE: CON) common stock to its stockholders. The distribution occurred on November 25, 2024, with stockholders receiving 0.806971 Concentra shares for each Select Medical share held as of the November 18, 2024 record date. Following this spin-off, Select Medical no longer holds any Concentra shares. J.P. Morgan and Goldman Sachs served as financial advisors for the distribution.
Select Medical Holdings (NYSE: SEM) has announced the distribution ratio for its special stock distribution of Concentra Group Holdings Parent equity to stockholders. Shareholders will receive 0.806971 shares of Concentra's common stock for each Select Medical share held as of November 18, 2024 (Record Date). The distribution will occur on November 25, 2024, with cash provided in lieu of fractional shares. The distribution is intended to be tax-free for U.S. federal income tax purposes. J.P. Morgan and Goldman Sachs are serving as financial advisors, while Dechert LLP is acting as legal advisor for the distribution.
Concentra (NYSE: CON) has announced the opening of a new medical center in DeSoto, Texas, expanding its presence in the Dallas-Fort Worth Metroplex. The facility will offer work injury care, physical therapy, drug testing, DOT physical exams, pre-placement exams, and employer-related health services, including telemedicine via Concentra Telemed. As the largest provider of occupational health services in the United States, Concentra operates 548 occupational health centers across 41 states and 155 onsite health clinics at employer worksites in 37 states, serving over 50,000 patients daily with its workforce of 11,000 colleagues and affiliated medical professionals.
Select Medical Holdings has announced a special stock distribution of its Concentra holdings to shareholders. The distribution will occur on November 25, 2024, with a record date of November 18, 2024. Stockholders will receive approximately 0.806971 shares of Concentra's common stock (NYSE: CON) for each share of Select Medical stock held. The distribution represents about 81.7% of Concentra's outstanding shares, totaling 104,093,503 shares. The transaction is intended to be tax-free for U.S. federal income tax purposes, and no stockholder action is required. Cash will be provided in lieu of fractional shares.