Concentra to acquire Pivot Onsite Innovations for $55M

Concentra (CON) announced the signing of a definitive agreement to acquire Pivot Onsite Innovations from Athletico Physical Therapy. With the addition of Pivot Onsite Innovations, the Concentra Onsite Health organization will expand to approximately 350 onsite health clinics at employer worksites located in over 40 states. This transaction values Pivot Onsite Innovations at $55M, subject to adjustment in accordance with the terms and conditions set forth in the purchase agreement. Concentra currently expects to finance the announced transaction using a combination of cash on hand and available borrowing capacity under its existing revolving credit facility. This transaction is expected to close in the second quarter of 2025 subject to the satisfaction of customary closing conditions.