Concentra Group Holdings Parent, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024. Fourth-quarter revenue increased 5.5% to $465.0 million, and full-year revenue increased 3.4% to $1,900.2 million. Net income for the fourth quarter was $22.8 million, with earnings per common share at $0.17, while full-year net income was $171.9 million, with EPS at $1.46.
Adjusted EBITDA for the fourth quarter increased 13.6% to $77.5 million, and for the full year, it increased 4.3% to $376.9 million. The company also confirmed the closing of the Nova Medical Centers acquisition, effective March 1, 2025, for a purchase price of $265 million. This acquisition adds 67 medical centers, expanding Concentra's network to over 770 occupational health centers and onsite health clinics across 42 states.
In conjunction with the Nova acquisition, Concentra re-priced its Credit Facilities, reducing the Term Loan interest rate from Term SOFR plus 2.25% to Term SOFR plus 2.00% and increasing the Revolving Credit Facility from $400.0 million to $450.0 million. The company's pro forma net leverage ratio post-transaction is 3.9x, with a target of 3.0x within 18-24 months. Concentra reaffirmed its 2025 business outlook, expecting revenue between $2,100 million and $2,150 million and Adjusted EBITDA between $410 million and $425 million.
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