US-based occupational health services provider Concentra Group Holdings Parent has entered 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.
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For more than 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.”
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By GlobalDataBoth 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 Goren, along with Scott Goren and Paul Goren.
Concentra’s network currently spans around 620 occupational health centres and more than 150 on-site health clinics.
With the acquisition of Pivot Onsite Innovations, this will grow to around 350 on-site 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.
