Concentra Group Holdings Parent, Inc. Files 8-K with the SEC Detailing Key Events

Concentra Group Holdings Parent, Inc., a leading provider of occupational health services, recently filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC). The filing, dated November 12, 2024, reported on various important events. Here are the key details from the filing:

The company’s revenue for the third quarter of 2024 showed a 3.3% increase year-over-year, reaching $489.6 million. This growth was primarily driven by stable workers’ compensation visit volume and reimbursement rate increases.

Adjusted EBITDA for the same period grew by 2.7% year-over-year to $101.6 million. This increase was attributed to revenue growth and improved efficiencies in general and administrative expenses.

Concentra’s capital expenditures, excluding acquisitions, amounted to $15.1 million in the third quarter of 2024. Additionally, the company announced a dividend of $0.0625 per share, payable on November 22, 2024.

Looking ahead, Concentra expects full-year 2024 revenue to be around $1.9 billion, with Adjusted EBITDA projected to range between $370 million and $375 million. The company aims to maintain a prudent capital allocation strategy, focusing on managing leverage levels and pursuing growth opportunities through acquisitions and de novos.

Concentra’s long-term financial targets include achieving an Adjusted EBITDA margin of over 20%, robust free cash flow generation with an annual conversion rate of over 80%, and a targeted net leverage ratio of less than 3.0x in the next 24 months.

The company’s leadership team, boasting 275 years of combined experience with Concentra, is aligned with its strategic objectives. Additionally, its Board of Directors comprises accomplished individuals with extensive experience in healthcare leadership.

Concentra emphasizes its commitment to delivering value creation, maintaining stable profitability, and enhancing its footprint through strategic growth initiatives.

For further details and comprehensive financial information, interested parties can refer to Concentra Group Holdings Parent, Inc.’s official filings with the Securities and Exchange Commission.

Please note that the above information is sourced from the company’s recent SEC filing and is provided for informational purposes only.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Concentra Group Holdings Parent’s 8K filing here.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers’ compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.