Louisville, Ky.-based Humana Inc. today announced it has signed a definitive agreement to purchase Concentra Inc., a privately held healthcare company based in Addison, Texas, for approximately $790 million in cash. Through its affiliated clinicians, Concentra delivers occupational medicine, urgent care, physical therapy and wellness services to workers and the general public from more than 300 medical centers in 42 states. Nearly 3 million Humana medical members live near a Concentra center. In addition to its medical center locations, Concentra serves employer customers by providing a broad range of health advisory services and operating more than 240 worksite medical facilities.
Annual revenues for Concentra approximate $800 million. The transaction is subject to certain regulatory approvals and is anticipated to close in December 2010. Humana's financial guidance for the years ending Dec. 31, 2010 and Dec.31, 2011 exclude the impact of this pending transaction. Concentra is expected to be slightly accretive to Humana's earnings for the year ending Dec.31, 2011.
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