MECHANICSBURG, Pa. and SAN FRANCISCO, Feb. 1, 2018 /PRNewswire/ — Select Medical Holdings Corporation (“Select Medical”) (NYSE: SEM) and Dignity Health today announced the completion of the transaction to combine Concentra Group Holdings, LLC (“Concentra”), with U.S. HealthWorks, Inc. (“U.S. HealthWorks”), a subsidiary of Dignity Health Holdings Company (“DHHC”). Concentra has acquired all of the issued and outstanding shares of stock of U.S. HealthWorks from DHHC. Dignity Health owns a 20% equity interest in the combined entity holding Concentra and U.S. HealthWorks.
“This deal offers an exceptional opportunity to continue growing the Select Medical family of health care providers,” said Robert A. Ortenzio, Executive Chairman and Co-Founder of Select Medical. “Occupational medicine continues to be an important segment of our portfolio and we are excited about the sustained growth of Concentra. The addition of U.S. HealthWorks to the Concentra organization will further solidify our leadership position in supporting the delivery of occupational medicine to America’s workforce.”
“We are excited to add U.S. HealthWorks’ established practices to the Concentra organization, to further support and enhance the delivery of best-in-class occupational medicine and urgent care to communities and employer worksites nationwide,” said Keith Newton, Chairman, President and Chief Executive Officer of Concentra. “This transaction presents a unique opportunity to bring together two leaders in our industry, resulting in accelerated advancements and enhanced clinical outcomes for patients and employers, ultimately setting a new standard for the support and delivery of occupational medicine.”
Concentra will begin the process of integrating U.S. HealthWorks into its portfolio of medical centers and employer worksite clinics, with the combination helping to strengthen the delivery of care through greater access and standardization of best practices, while also improving health and wellness services for employers and employees. The new organization will have over 60 years of combined history supporting and providing occupational medicine, and will be comprised of more than 700 medical centers and employer worksite clinics in 44 states, delivering services to more than 44,000 patients each day.
Concentra was formed through a joint venture between Select Medical Corporation, a wholly-owned subsidiary of Select Medical, Welsh, Carson, Anderson & Stowe XII, L.P., and other minority equity holders including Cressey & Company. For more information about Concentra, visit www.concentra.com.
About Select Medical:
Select Medical began operations in 1997 and has grown to be one of the largest operators of long term acute care hospitals, inpatient