Concentra Group Holdings Parent, Inc. announced that it has signed an agreement to acquire U.S. Occmed Holdings, doing business as Nova Medical Centers. The transaction values Nova Medical Centers at $265 million and is expected to close in the first quarter of 2025.
Nova Medical Centers is an occupational health services company based in Houston, Texas. The company operates 67 centers in Texas, Georgia, Tennessee, Indiana and Wisconsin providing workers’ compensation injury care services, physical therapy, drug and alcohol screening and pre-employment physicals as part of its full suite of occupational health services.
Concentra is a leading healthcare company focused on improving the health of America’s workforce. Through its managed practice groups and affiliated clinicians, the company currently provides occupational medicine, urgent care, physical therapy and wellness services from 520 medical centers nationwide. Concentra was created through a joint venture between Select Medical Corporation, a wholly-owned subsidiary of Select Medical, Welsh, Carson, Anderson & Stowe and other minority equity holders including Cressey & Company.
The transaction was announced alongside Concentra’s preliminary 2024 financial results on January 22, 2025. Concentra currently expects to finance the announced transaction using a combination of cash on hand, available borrowing capacity under its existing revolving credit facility and new debt financing.
According to data captured in the LevinPro HC database, this acquisition represents the second occupational health deal of 2025. Earlier in the month, Optima Health acquired U.K.-based occupational health provider BHSF Occupational Health. There were 11 occupational health transactions announced during 2024, 19 announced during 2023 and 10 announced during 2022.
