Concentra Group, which is the nation’s largest provider of occupational health services, announced the signing of a definitive agreement to acquire Pivot Onsite Innovations from Athletico Physical Therapy. And Pivot Onsite Innovations is a leader in the onsite health industry with over 200 onsite health clinics at employer locations in over 40 states.
Pivot Onsite Innovations has been providing occupational health, wellness, prevention, and performance services for over two decades, delivering better health outcomes for employees at leading organizations across the country. The key members of Pivot Onsite Innovations’ executive team, led by Dr. Goren, Scott Goren, and Paul Goren, will transition to Concentra Onsite Health.
The companies are committed to ensuring a seamless transition for Pivot’s clients, with no disruption to current services. And Pivot’s customers will continue to receive care from their trusted, familiar teams, backed by Concentra’s expanded resources and capabilities.
Concentra has been known as the premier provider of occupational health services, currently offering its services through an extensive nationwide network of approximately 620 occupational health centers and more than 150 onsite health clinics at employer worksites. And with the addition of Pivot Onsite Innovations, the Concentra Onsite Health organization will expand to approximately 350 onsite health clinics at employer worksites located in over 40 states.
This deal values Pivot Onsite Innovations at $55 million, subject to adjustment in accordance with the terms and conditions set forth in the Purchase Agreement. And Concentra currently expects to finance the announced transaction using a combination of cash on hand and available borrowing capacity under its existing revolving credit facility.
This deal is expected to close in the second quarter of 2025 subject to the satisfaction of customary closing conditions.
KEY QUOTES:
“Joining forces with Pivot Onsite Innovations represents an exciting new chapter for Concentra Onsite Health. Since 1993, our onsite health clinics have provided employees with immediate access to high-quality care at their workplaces across the country. Like Concentra, Pivot Onsite Innovations emphasizes workplace health through programs designed to promote a safer, healthier, and more productive workforce. This collaboration doubles the size of our growing Concentra Onsite Health operating segment.”
– Matt DiCanio, Concentra’s President and Chief Financial Officer
“At Concentra Onsite Health, we understand the importance of building personal and meaningful relationships with employers, their employees, and their communities. 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.”
“We are pleased to retain key management as their leadership and expertise will be instrumental in ensuring continuity as we grow and collaboratively shape the future of the business for both our customers and our colleagues.”
– Mike Rhine, Executive Vice President, Chief Operating Officer, Onsite Health and Telemedicine
“Over the last 25 years, we have grown by providing personalized, high-quality services to our customers and creating advancement opportunities for our employees. By joining forces with Concentra, we are excited to build on these positive outcomes and expand our service offerings for our customers and employees.”
– Dr. Lawrence J. Goren, Founder and Chief Medical Officer of Pivot Onsite Innovations
