In an interesting
diversification move, US health insurer Humana has signed an
agreement to buy Concentra, a privately owned provider of health
and related services, for $790m in cash.
Humana chairman and CEO
Michael McCallister commented that the acquisition of Concentra
provides revenue diversification and opportunities for “strategic
expansion longer term.”
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According to Humana,
Concentra operates some 300 medical facilities in 42 states where
it provides occupational medicine, urgent care and physical
therapy.
In addition, Concentra serves
employer customers by providing health advisory services and
operating more than 240 worksite medical facilities.
Humana noted that nearly 3m
of its health insurance members live near one of Concentra’s
facilities.
