Dechert Advises on Concentra’s Initial Public Offering

Dechert advised Select Medical Holdings Corporation (Select Medical) and Concentra Group Holdings Parent, Inc. (Concentra), a wholly owned subsidiary of Select Medical, on Concentra's IPO.

Select Medical is a leading operator of critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. Concentra is one of the largest providers of occupational health services in the country, dedicated to improving the health of America's workforce, one patient at a time.

Concentra's IPO of 22,500,000 shares was priced at US$23.50 per share. The underwriters have a 30-day option to purchase up to an additional 3,375,000 shares to cover over-allotments. 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 successfully closed on July 26, 2024.

The Dechert team advising Select Medical and Concentra included corporate partners Stephen Leitzell, Anna Tomczyk and Ani Ravi, along with associates Taylor Stevens, Rodrigo Rivera, Dillan Gomes, Bryan Wilson, Alejandra Lankenau, Dhwani Patel, Lauren Soares, Grace Canfield and Bryce Small; tax partner David Passey and associates Ishani Kundu and Lixun Chen; employee benefits partner Kevin Kay and associates Tabitha Crosier and Michael Binko; intellectual property partner Thomas Rayski; data privacy senior counsel Timothy Blank and associate Hilary Bonaccorsi; and international trade partner Darshak S. Dholakia and associate Amy Jicha.

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital - from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients' rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology.