Concentra Group Holdings Parent, Inc. (NYSE: CON)

Concentra Group Holdings Parent, Inc. is the largest provider of occupational health services in the United States by number of locations. The company operates a nationwide network of occupational health centers, onsite health clinics, and a telemedicine platform designed to improve the health of America’s workforce. As of December 31, 2025, it maintained 628 stand alone occupational health centers across 41 states and 411 onsite health clinics at employer worksites in 44 states. Its telemedicine service reached 43 states and the District of Columbia, giving the company a presence in 47 states and the District of Columbia. The workforce included approximately 13,000 colleagues and affiliated physicians and clinicians who supported an average of about 53,000 patient visits each business day during 2025.

Revenue is generated primarily from workers’ compensation injury care and employer services such as physical examinations, drug and alcohol screenings, vaccinations, and consultative visits delivered at occupational health centers and onsite clinics. In addition, the company offers consumer health services for minor illnesses and injuries at its centers. For the year ended December 31, 2025, total revenue was $2,163.4 million, with approximately 93% derived from the occupational health centers segment, about 5% from onsite health clinics, and roughly 2% from other businesses. Customers include employers across the United States, workers’ compensation insurance carriers, third party administrators, and individuals seeking care at the facilities.

The company operates through the following segments: occupational health centers, onsite health clinics, and other businesses.

• Occupational health centers: This segment delivers workers’ compensation care and employer services including physical examinations, drug and alcohol screenings, vaccinations, and consultative visits at 628 stand alone occupational health centers located in 41 states.

• Onsite health clinics: This segment provides occupational health and employer sponsored primary care services at employer worksites, operating 411 clinics in 44 states and offering injury care, primary care, urgent care, preventive care, physical therapy, athletic training, and episodic specialty testing.

• Other businesses: This segment includes Concentra Telemed for remote treatment of work related injuries, Concentra Pharmacy for medication distribution, and Concentra Medical Compliance Administration for substance abuse program management, serving employers across the United States.

Concentra holds a leading position in the fragmented occupational health services industry as the largest provider by number of locations. Competitors range from independent single site practices and regional operator groups to hospital owned clinics and national urgent care chains that offer occupational health as an ancillary service. The company’s competitive advantages stem from its extensive geographic footprint, integrated service delivery across centers, clinics and telemedicine, long standing relationships with a broad base of employers including 100% of the Fortune 100, and investments in technology such as the Concentra HUB platform that streamline customer interactions and improve operational efficiency.

The company’s primary customers are employers across the United States, including 100% of the Fortune 100 companies, which together represent a significant portion of its revenue. In addition, Concentra works with numerous workers’ compensation insurance carriers and third party administrators such as Sedgwick, Gallagher Bassett, Travelers, Liberty Mutual, Chubb, eScreen, First Advantage, DISA, and Comprehensive Health Services. Patients receiving care are employees of these employer clients, contributing to an average of about 53,000 visits per business day.