Urgent care operator Concentra Group Holdings Parent Inc. is seeking an initial public offering after filing a confidential draft registration statement with the Securities and Exchange Commission, the company announced Monday.
The Addison-based company, a subsidiary of Select Medical Holdings Corp., said the number of shares and price range for the planned initial public offering have yet to be determined.
Concentra is one of the largest urgent care and occupational health companies in the country, operating 544 medical centers and 150 on-site clinics at employer locations in 41 states as of the end of 2023. The subsidiary employs about 11,400 people, according to federal records.
Earlier this year, Select Medical Holdings announced plans to separate from Concentra and create two independent and publicly traded companies. Select Medical Holdings expects to complete the separation by the end of 2024.
Select Medical Holdings reported 2023 revenue of $6.66 billion, with Concentra accounting for 28%, or about $1.87 billion, of that revenue, according to Select Medical's year-end results.
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