Select Medical Holdings Corporation (Select Medical) (NYSE: SEM) and Concentra Group Holdings Parent, Inc. (Concentra) (NYSE: CON), a wholly owned subsidiary of Select Medical, have announced the pricing of Concentra’s initial public offering (IPO) of 22,500,000 shares of Concentra’s common stock at a price to the public of US$23.50 per share. In addition, Concentra has granted the underwriters a 30-day option to purchase up to an additional 3,375,000 shares of its common stock to cover over-allotments, if any. Concentra’s common stock has been approved for listing on the New York Stock Exchange under the symbol “CON” and began trading on July 25, 2024. The IPO is expected to close on July 26, 2024, subject to the satisfaction or waiver of customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Nathan Ajiashvili and Alison Haggerty, with associates Kaj Nielsen, Shawn Quinn, Adam Weber, and Emma Gilmore. Advice was also provided on healthcare regulatory matters by Washington, D.C. partner Jason Caron and counsel Nicole Liffrig Molife, with associates Margaret Rote and Megan Lich; on benefits matters by Washington, D.C. partner David Della Rocca; on IP matters by New York partner Jeffrey Tochner, with associates Pelin Serpin and Ece Gonulal; on data privacy matters by Bay Area partner Heather Deixler, with associate Zac Alpert; and on and tax matters by Rene de Vera.