# Concentra Group Holdings Parent

Concentra Group Holdings Parent is an Asset Manager based in Addison, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Addison, United States
- **Region:** North America
- **Address:** Addison, TX, United States
- **Founded:** 1979
- **Assets under management:** Undisclosed
- **Website:** concentra.com

## Regulatory record

- **Reports private funds:** No

## About

Concentra Group Holdings Parent was incorporated in its current form ahead of a 2024 initial public offering that separated the occupational medicine business from its former parent, Select Medical Holdings. The firm traces its operating roots to 1979, when the first Concentra clinic opened to serve employers managing workplace injuries under a centralized cost-containment model. Today the entity operates more than 540 on-site health centers across 41 states, making it the largest stand-alone occupational health platform in the country. The deployment model is operationally intensive rather than allocative. Capital flows into de novo clinic openings, bolt-on acquisitions of regional urgent-care chains, and the expansion of on-site employer clinics that embed Concentra staff directly within corporate campuses. The firm does not invest third-party capital across asset classes; its balance sheet is deployed entirely within the narrow corridor of occupational medicine, physical therapy, and employer-mandated drug testing. Key operating facilities include centers managed for clients such as Amazon, Walmart, and the U.S. Department of Veterans Affairs. Scale derives from patient volume rather than asset-management metrics. The platform handles more than 11 million patient visits annually, supported by a network of affiliated physicians and physical therapists across 540 locations as of the December 2023 prospectus. The adjacent vehicle is the outpatient rehabilitation division, Concentra Physical Therapy, which shares facilities and referral pathways with the occupational-medicine clinics. In July 2024, the firm completed its public listing on the New York Stock Exchange under the ticker CON, raising approximately $529 million in gross proceeds. Concentra's structural differentiator is its public-company governance layered over a majority-controlled operating asset. Select Medical retained a roughly 68% voting stake post-IPO, meaning the entity functions as a controlled company with independent board members overseeing a single-sector, wholly owned operator. That architecture places it outside the family-office classification entirely — it is a pure-play public healthcare services company with no fund structure, no external limited partners, and no co-investment vehicles.

## Sectors

- Occupational Health Services

## Questions

### Who controls Concentra Group Holdings, and what is the governance structure?

As of November 25, 2024, Select Medical completed a full spin-off of Concentra, distributing all of its shares to Select Medical stockholders. Select Medical no longer holds any ownership stake in Concentra. Concentra now operates as a fully independent public company.

### What is Concentra's actual business — beyond the holding-company label?

The operating subsidiaries run occupational-medicine centers, urgent-care clinics, and physical-therapy practices that treat workplace injuries, perform pre-employment and DOT physicals, and manage employer-mandated drug and alcohol testing programs. The firm also places on-site health centers directly inside large employer campuses under multiyear service contracts.

### How does Concentra deploy capital?

Capital deployment follows an organic-growth and acquisition model within a single vertical. The company opens new de novo clinics in high-density commercial corridors, acquires smaller regional occupational-health providers to expand geographic reach, and builds out physical-therapy capacity co-located with existing centers. There is no multi-asset-class portfolio or external funding mandate.

### What scale does Concentra operate at?

As of the 2024 IPO prospectus, the company operated over 540 centers across 41 U.S. states and managed more than 11 million patient visits per year. The public offering raised roughly $529 million in gross proceeds, establishing a standalone balance sheet independent of Select Medical's other healthcare holdings.

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Last updated: 2026-07-10T21:59:25.000Z

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