By Pat Sullivan, Contributing Editor
Today’s issue of WorkCompRecap features some M&A news with the announcement from Select Medical and Dignity Health that they have signed a definitive agreement to combine Concentra and U.S. HealthWorks.
The transaction will occur through an equity purchase and contribution agreement, whereby Concentra will acquire all of the issued and outstanding shares of stock of U.S. HealthWorks from Dignity Health Holding Company. After the closing Dignity Health will own a 20% equity interest in the combined entity holding Concentra and U.S. HealthWorks. The transaction values U.S. HealthWorks at $753 million, subject to terms and some adjustments. Dignity Health’s stake in the new combined entity will be valued at $238 million, and they’ll receive remainder of the purchase price in cash.
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