Concentra has had a busy start to June. Already, the Addison, Texas-based company has acquired two occupational health providers, and we’re not even halfway through the month.
On June 5, Concentra announced its acquisition of Holland Medi Center, an occupational health clinic in Holland, Michigan which will be renamed Concentra Holland Michigan. The addition of the center brings Concentra’s portfolio in Michigan to 19 locations.
The next day, Concentra announced its acquisition of One Source Occupational Medicine in Tulsa, Oklahoma. The addition brings Concentra’s portfolio in Oklahoma to eight locations. With this deal, Concentra expands its reach into Tulsa, a region with significant industrial activity and a growing need for specialized healthcare services for the workforce.
These two acquisitions are part of Concentra’s broader growth strategy, which has seen the company execute a total of five deals in 2023 alone, and ten since 2021.
Through its nationwide network of more than 540 locations, including eight facilities in Oklahoma and 19 in Michigan, Concentra offers comprehensive and convenient occupational health services to businesses and workers across the United States.
Concentra is looking to enter the more than $6.8 billion occupational health market, an industry that is expected to surpass approximately $8.2 billion by 2030, according to Research Reports World’s latest research study. The increasing demand for comprehensive and convenient occupational health services, coupled with the presence of industry leaders like Concentra, further solidifies the field’s appeal, leading to an active M&A market.
The occupational health industry has witnessed a surge in M&A activity in 2023, with a notable increase in deal announcements compared to previous years. As of June 12, there have been 14 occupational health deals announced this year, a significant rise from the numbers seen in 2021 and 2022. Impressively, Concentra has been responsible for four of these deals, accounting for 29% of the total.
Concentra isn’t the only company looking to bolster their occupational health services. Other companies, like Akeso Occupational Health, have also made moves into the market.
Headquartered in Irvine, California, Akeso Occupational Health develops occupational medicine clinic groups, focusing on the evaluation and treatment of health issues that arise from work or environmental exposures, enabling injured employees to return to work.
Akeso kicked off 2023 with two deal announcements in the occupational health space. First, the company acquired Inland Empire Occupational Medicine, which has been providing occupational therapy in Riverside, California for more than 25 years.
Then, just a few days after, Akeso acquired Immediate Medical Center, a premier occupational health provider with four southern California clinics located in Commerce, Lakewood, La Mirada and Paramount. Akeso’s expansion efforts reflect its commitment to helping injured employees return to work through its comprehensive services.
Companies like Pinnacle HealthCare are also expanding their occupational health portfolio with new acquisitions. In January, Pinnacle acquired Agile Occupational Medicine, a Gardena, California-based company with an established portfolio of occupational health providers.
The combination creates the fourth-largest occupational medical group in California, with 14 clinics throughout California and Yuma, Arizona.
Agile Occupational Medicine followed that news up with a deal announcement of its own. The company announced in April its acquisition of WorkWell Medical Group LLC, which offers patients and employers an in-house network of specialists, a multidisciplinary rehabilitation facility and a mobile medical clinic. WorkWell provides a complete suite of healthcare services through its five urgent care clinics, and expands the Pinnacle HealthCare and Agile Occupational Medicine network even more to 20 clinics throughout California and Yuma, Arizona.
Concentra’s recent acquisitions and continuous growth demonstrates its ability to lead the charge in the field of occupational health. As other companies like Akeso Occupational Health and Pinnacle HealthCare also strive to expand their presence, the industry as a whole is experiencing significant development. The increased activity in the occupational health market underscores the growing recognition of the importance of specialized healthcare services for the workforce, ultimately benefiting businesses, workers and the overall well-being of communities.
