Select Medical Holdings Corp., which operates outpatient rehabilitation clinics and specialty hospitals, and Welsh, Carson, Anderson & Stowe XII, L.P., a private equity fund, have agreed to buy Humana subsidiary Concentra Inc. for approximately $1.055 billion in cash.
Concentra is an occupational and physical therapy provider that treats up to 14% of work-related injuries nationally. At the end of 2014, Select Medical Corporation operated 113 long-term acute care hospitals and 16 inpatient rehabilitation facilities in 28 states, as well as 1,023 outpatient rehabilitation clinics in 31 states and the District of Columbia.
Humana bought Concentra in December 2010.
