Dechert Represents Select Medical in Concentra Acquisition via Joint Venture with Welsh Carson

Select Medical Corporation today announced that MJ Acquisition Corporation, a joint venture that Select has created with Welsh, Carson, Anderson & Stowe XII, L.P., has entered into a stock purchase agreement as buyer with Concentra Inc. and Humana Inc. to acquire all of the issued and outstanding equity securities of Concentra from Humana. Philadelphia-based partner Stephen Leitzell led the team representing Select Medical with assistance from associates Adam Rosenthal and Yoon Ah Oh; partners Carmen Romano, Sarah Gelb and Ed Lemanowicz and associate Steven Lorch.

Concentra, a subsidiary of Humana, is a national health care company that delivers a wide range of medical services to employers and patients, including urgent care, occupational medicine, physical therapy, primary care, and wellness programs.

For all of the outstanding stock of Concentra, MJ Acquisition Corporation has agreed to pay a purchase price of $1.055 billion, subject to adjustments for net working capital and net debt on the closing date. The transaction, which is expected to close in the second quarter of 2015, is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

The full press release is available here.

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