Humana to exit people’ compensation with Sale of Concentra

Humana Inc. has agreed to sell the stock of its subsidiary Concentra Inc., one of the most important occupational fitness services providers.

The consumer will be MJ Acquisition Corp., a joint task between pick medical Holdings Corp., an operator of strong point hospitals and outpatient rehabilitation clinics within the U.S., and Welsh, Carson, Anderson & Stowe XII, L.P., a private equity fund, for about $1.0.5 billion in coins.

Concentra is one of the nation’s largest vendors of occupational fitness, pressing care and physical therapy offerings to employers and consumers across the U.S. It stated it treats more than 14 percent of all work-associated injuries national.

through its affiliated clinicians, the organisation promises occupational medicinal drug, pressing care, primary care, physical remedy, and health services to people and most people from more than 300 medical centers in 38 states. further to those scientific middle locations, Concentra operates more than 245 worksite clinical facilities.

Humana received Concentra in December 2010.  Humana said that as it has refined its method over the past several years, it discovered that the number one care platform become the better approach to increase the corporation’s incorporated care delivery model than Concentra’s focus on occupational accidents.

“We greatly admire the point of interest on consumers and first-rate of health care our Concentra buddies exhibit on a every day foundation,” said Bruce D. Broussard, president and CEO of Humana. “although Concentra’s operations did now not in the long run align with Humana’s approach as well as we had at the beginning anticipated, we believe Humana and Concentra have gained treasured insights into client conduct during the last several years so that it will serve us both well shifting forward.”

Concentra reported $1.0 billion in revenues for the 12 months ended Dec. 31, 2014.

The Concentra transaction is anticipated to shut all through the second one quarter of 2015.

Humana stated it expects to apply the internet proceeds from the transaction to strengthen its strategic boom priorities, to fund additional share repurchases below its present $2 billion authorization and for preferred corporate functions.