Select Medical Holdings Corporation announced on November 6, 2024, that its Board of Directors approved a special stock distribution to spin off Concentra Group Holdings Parent, Inc. This distribution involves 104,093,503 shares of Concentra's common stock, representing approximately 81.7% of Concentra's outstanding shares, which were owned by Select Medical Corporation.
The distribution will be made to Select Medical's stockholders of record as of the close of business on November 18, 2024. This action will result in Concentra becoming a fully independent entity, sharpening its focus on occupational health services.
The spin-off is a significant strategic move, allowing Concentra to operate independently and pursue its growth objectives. This separation is expected to provide greater clarity for investors regarding Concentra's financial performance and strategic direction.
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