Latest news with #Concentra
Business Wire
19-05-2025
- Health
- Business Wire
Concentra Expands in Chattanooga, Tennessee
ADDISON, Texas--(BUSINESS WIRE)--Concentra® (NYSE: CON) the nation's leader in occupational medicine, today announced the opening of a new medical center in Chattanooga, Tennessee. The medical center, Concentra Chattanooga Downtown is conveniently located at 1206 Broad Street, Suite 106, Chattanooga, Tennessee 37402. 'We're excited to continue our expansion in eastern Tennessee,' said Janet Cobb, MD, senior vice president of Concentra medical operations. 'Expanding our footprint helps us to build stronger relationships with local employers and provide employees with additional access points to care.' Concentra will provide work injury care, physical therapy, drug testing, DOT physical exams, pre-placement exams, and other employer-related health services from its new location in Chattanooga. Telemedicine for minor work injuries will also be available via Concentra Telemed®, Concentra's proprietary telemedicine platform. Concentra has long been known as the premier provider of occupational health and urgent care services delivered through an extensive network of more than 620 locations nationwide. This expansion strengthens Concentra's growing presence in Tennessee and enables the company to more effectively meet the demand for comprehensive occupational health services in the region. Concentra offers quality, efficient medical care to meet the needs of employers and their employees at convenient times and locations. To explore Concentra's ever-expanding national footprint and to see a complete list of locations, visit About Concentra Concentra is the largest provider of occupational health services in the United States by number of locations, with the mission of improving the health of America's workforce, one patient at a time. Our 12,000 colleagues and affiliated physicians and clinicians support the delivery of an extensive suite of services, including occupational and consumer health services and other direct-to-employer care, to more than 50,000 patients each day on average from more than 625 occupational health centers in 41 states and 160 onsite health clinics at employer worksites in 36 states as of May 19, 2025.
Associated Press
19-05-2025
- Health
- Associated Press
Concentra Expands in Chattanooga, Tennessee
ADDISON, Texas--(BUSINESS WIRE)--May 19, 2025-- Concentra® (NYSE: CON) the nation's leader in occupational medicine, today announced the opening of a new medical center in Chattanooga, Tennessee. The medical center, Concentra Chattanooga Downtown is conveniently located at 1206 Broad Street, Suite 106, Chattanooga, Tennessee 37402. 'We're excited to continue our expansion in eastern Tennessee,' said Janet Cobb, MD, senior vice president of Concentra medical operations. 'Expanding our footprint helps us to build stronger relationships with local employers and provide employees with additional access points to care.' Concentra will provide work injury care, physical therapy, drug testing, DOT physical exams, pre-placement exams, and other employer-related health services from its new location in Chattanooga. Telemedicine for minor work injuries will also be available via Concentra Telemed®, Concentra's proprietary telemedicine platform. Concentra has long been known as the premier provider of occupational health and urgent care services delivered through an extensive network of more than 620 locations nationwide. This expansion strengthens Concentra's growing presence in Tennessee and enables the company to more effectively meet the demand for comprehensive occupational health services in the region. Concentra offers quality, efficient medical care to meet the needs of employers and their employees at convenient times and locations. To explore Concentra's ever-expanding national footprint and to see a complete list of locations, visit About Concentra Concentra is the largest provider of occupational health services in the United States by number of locations, with the mission of improving the health of America's workforce, one patient at a time. Our 12,000 colleagues and affiliated physicians and clinicians support the delivery of an extensive suite of services, including occupational and consumer health services and other direct-to-employer care, to more than 50,000 patients each day on average from more than 625 occupational health centers in 41 states and 160 onsite health clinics at employer worksites in 36 states as of May 19, 2025. View source version on CONTACT: Lynn Craig 610-739-8003 [email protected] KEYWORD: UNITED STATES NORTH AMERICA TEXAS TENNESSEE INDUSTRY KEYWORD: PROFESSIONAL SERVICES HEALTH TELEMEDICINE/VIRTUAL MEDICINE HOSPITALS PHYSICAL THERAPY HUMAN RESOURCES GENERAL HEALTH SOURCE: Concentra Copyright Business Wire 2025. PUB: 05/19/2025 08:20 AM/DISC: 05/19/2025 08:19 AM
Yahoo
19-05-2025
- Health
- Yahoo
Concentra Expands in Chattanooga, Tennessee
ADDISON, Texas, May 19, 2025--(BUSINESS WIRE)--Concentra® (NYSE: CON) the nation's leader in occupational medicine, today announced the opening of a new medical center in Chattanooga, Tennessee. The medical center, Concentra Chattanooga Downtown is conveniently located at 1206 Broad Street, Suite 106, Chattanooga, Tennessee 37402. "We're excited to continue our expansion in eastern Tennessee," said Janet Cobb, MD, senior vice president of Concentra medical operations. "Expanding our footprint helps us to build stronger relationships with local employers and provide employees with additional access points to care." Concentra will provide work injury care, physical therapy, drug testing, DOT physical exams, pre-placement exams, and other employer-related health services from its new location in Chattanooga. Telemedicine for minor work injuries will also be available via Concentra Telemed®, Concentra's proprietary telemedicine platform. Concentra has long been known as the premier provider of occupational health and urgent care services delivered through an extensive network of more than 620 locations nationwide. This expansion strengthens Concentra's growing presence in Tennessee and enables the company to more effectively meet the demand for comprehensive occupational health services in the region. Concentra offers quality, efficient medical care to meet the needs of employers and their employees at convenient times and locations. To explore Concentra's ever-expanding national footprint and to see a complete list of locations, visit About Concentra Concentra is the largest provider of occupational health services in the United States by number of locations, with the mission of improving the health of America's workforce, one patient at a time. Our 12,000 colleagues and affiliated physicians and clinicians support the delivery of an extensive suite of services, including occupational and consumer health services and other direct-to-employer care, to more than 50,000 patients each day on average from more than 625 occupational health centers in 41 states and 160 onsite health clinics at employer worksites in 36 states as of May 19, 2025. View source version on Contacts Lynn Craig 610-739-8003 lycraig@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
SEM Q1 Earnings Call: Regulatory Headwinds and Mixed Division Performance Shape Outlook
Healthcare services company Select Medical (NYSE:SEM) missed Wall Street's revenue expectations in Q1 CY2025 as sales rose 2.4% year on year to $1.35 billion. The company's full-year revenue guidance of $5.4 billion at the midpoint came in 1.6% below analysts' estimates. Its GAAP profit of $0.44 per share was 7.3% below analysts' consensus estimates. Is now the time to buy SEM? Find out in our full research report (it's free). Revenue: $1.35 billion vs analyst estimates of $1.39 billion (2.4% year-on-year growth, 2.6% miss) EPS (GAAP): $0.44 vs analyst expectations of $0.47 (7.3% miss) Adjusted EBITDA: $151.4 million vs analyst estimates of $166.5 million (11.2% margin, 9.1% miss) The company dropped its revenue guidance for the full year to $5.4 billion at the midpoint from $5.5 billion, a 1.8% decrease EPS (GAAP) guidance for the full year is $1.14 at the midpoint, beating analyst estimates by 1.8% EBITDA guidance for the full year is $520 million at the midpoint, below analyst estimates of $531.3 million Operating Margin: 8.3%, in line with the same quarter last year Free Cash Flow was -$55.8 million compared to -$119.2 million in the same quarter last year Sales Volumes fell 1.9% year on year (1% in the same quarter last year) Market Capitalization: $1.96 billion Select Medical's first quarter results reflected the company's ongoing transition following the Concentra spin, with divergent trends across its main business lines. Management attributed the quarter's performance to robust growth in the inpatient rehabilitation division, which offset challenges in both outpatient and critical illness recovery hospital operations. CEO Robert Ortenzio cited severe weather events and Medicare reimbursement reductions as primary pressures on outpatient results, while regulatory changes and a delayed flu season weighed on the critical illness recovery segment. Looking ahead, management's guidance is shaped by ongoing regulatory uncertainty and shifting payer dynamics. The team expressed cautious optimism about inpatient rehabilitation expansion, noting a strong development pipeline and recent facility openings. However, they acknowledged persistent headwinds in the critical illness recovery segment, including higher outlier thresholds and the impact of the 20% transmittal rule. Management stated, "We are constantly having conversations both on the regulatory side with the new CMS administration and on the legislative side," underscoring the unpredictable reimbursement environment. Select Medical's leadership focused on the mixed performance across its divisions and the external factors impacting results. Management highlighted division-specific drivers and detailed ongoing initiatives to mitigate recent headwinds and support future growth. Inpatient Rehab Outperformance: The inpatient rehabilitation division delivered double-digit revenue and EBITDA growth, supported by both increased daily rates and a robust pipeline of new facility openings and expansions. Management pointed to occupancy rates above 80% in mature hospitals and a multi-year plan to add 440 new beds. Regulatory Headwinds in Critical Illness Recovery: The critical illness recovery hospital segment faced regulatory challenges, particularly a sharp increase in the high cost outlier threshold and the 20% transmittal rule. Management estimated these changes accounted for two-thirds of the EBITDA decline for this segment, and noted ongoing discussions with the Centers for Medicare & Medicaid Services (CMS) to address these impacts. Outpatient Division Weather Disruption: Severe winter storms in key geographies and a 3% decline in Medicare reimbursement led to lower outpatient volumes and EBITDA. The division saw a late-quarter recovery, and management expects further improvements as technology and access initiatives progress. Technology and Margin Initiatives: Management emphasized ongoing investments in technology for the outpatient business, including a new software platform aimed at improving productivity and contract negotiations. Early benefits were observed, and management expects margin improvement as further releases are implemented. Strategic Capacity Management: The company continued to optimize its outpatient footprint by opening 10 new clinics and closing or consolidating 13 underperforming locations, aligning resources with market demand and supporting more efficient operations. Management's outlook for the remainder of the year centers on regulatory and reimbursement trends, the pace of rehab expansion, and operational improvements in challenged segments. Regulatory Uncertainty Remains: The company's earnings trajectory will depend on future CMS policy changes impacting critical illness recovery reimbursement, as well as ongoing advocacy to mitigate outlier threshold increases and transmittal rule effects. Rehabilitation Expansion Pipeline: A strong pipeline of new inpatient rehab facilities and bed additions is expected to drive segment growth, with management noting both signed projects and additional opportunities under evaluation. Margin Recovery Initiatives: Continued implementation of technology upgrades and productivity measures in the outpatient division are expected to support gradual margin improvement, although external factors such as weather and Medicare rates remain risks. Justin Bowers (Deutsche Bank): Asked about expected occupancy rates in new inpatient rehab facilities. Management guided for occupancy to remain above 85% in mature hospitals, even as new capacity comes online. Ben Hendrix (RBC Capital Markets): Inquired about mitigation strategies for regulatory headwinds in critical illness recovery hospitals. Management indicated active discussions with CMS and ongoing advocacy, but cautioned that policy changes may take time. William Sutherland (The Benchmark Company): Sought clarification on the magnitude and timing of high cost outlier impacts and start-up costs. Management confirmed that start-up losses remained consistent year over year, with most headwinds concentrated in the first six weeks of the quarter. William Sutherland (The Benchmark Company): Asked about outpatient margin improvement initiatives. Management described new technology rollouts and improved commercial contract rates as key drivers, with incremental benefits expected throughout the year. Anne Hines (Mizuho): Asked about potential acceleration in inpatient rehab expansion to diversify away from critical illness recovery. Management confirmed an acceleration beyond currently announced projects, citing a robust project pipeline and ongoing market evaluations. In the coming quarters, the StockStory team will monitor (1) regulatory developments and any CMS decisions related to reimbursement for critical illness recovery, (2) progress on opening new inpatient rehab facilities and the pace at which they reach targeted occupancy, and (3) the effectiveness of technology and operational initiatives aimed at restoring outpatient division margins. Additionally, trends in patient volumes and reimbursement rates across all segments will remain key indicators of business momentum. Select Medical currently trades at a forward P/E ratio of 13×. Should you double down or take your chips? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Yahoo
22-04-2025
- Business
- Yahoo
Concentra to acquire Pivot Onsite Innovations for $55m
US-based occupational health services provider Concentra Group Holdings Parent has entered into a definitive agreement for the acquisition of Pivot Onsite Innovations from Athletico Physical Therapy for $55m. The transaction is anticipated to be financed through a mix of cash reserves and borrowing under Concentra's existing credit facilities. For over two decades, Pivot Onsite Innovations has been a provider of occupational health, prevention and wellness services, operating over 200 health clinics across more than 40 states. These services cater to employees at various organisations nationwide. Concentra Onsite Health and Telemedicine executive vice-president and chief operating officer Mike Rhine said: 'The cultural alignment and combined strengths of these two companies will ensure that customers continue to receive exceptional service and high-quality clinical care, as well as access to Concentra Onsite Health's advanced primary care offering. 'We look forward to the combined resources and scale of our Onsite Health business, with the addition of the Pivot Onsite Innovations team, that aligns with Concentra's mission to improve the health of America's workforce, one patient at a time.' Both companies have expressed their commitment to a seamless transition for Pivot Onsite Innovations' clients, ensuring that services will continue without interruption and that customers will benefit from the same care teams, supported by Concentra's broader resources. Pivot Onsite Innovations founder and chief medical officer Dr Lawrence Goren said: 'By joining forces with Concentra, we are excited to build on these positive outcomes and expand our service offerings for our customers and employees.' The acquisition will see key members of Pivot Onsite Innovations' executive team join Concentra Onsite Health. The team includes Dr Lawrence Goren, Scott Goren and Paul Goren. Concentra's network currently spans round 620 occupational health centres and more than 150 onsite health clinics. With the acquisition of Pivot Onsite Innovations, this will grow to around 350 onsite health clinics in over 40 states. The completion of this acquisition is projected for the second quarter of 2025, pending the fulfilment of standard closing conditions. "Concentra to acquire Pivot Onsite Innovations for $55m" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
