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Concentra Group Holdings Parent
Concentra Group Holdings Parent (CON) investor relations material
Concentra Group Holdings Parent 44th Annual J.P. Morgan Healthcare Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.44th Annual J.P. Morgan Healthcare Conference summary14 Jan, 2026
Business fundamentals and market position
Largest U.S. occupational health provider, treating 1 in 4 work-related injuries, with 628–650 centers and 400+ onsite clinics as of September 2025.
Serves ~200,000 employer customers, including all Fortune 100 companies, with no single customer accounting for more than 3% of revenue.
Highly diversified across industries and geographies, present in over 40 states with top markets in California and Texas.
Demonstrates strong customer retention, with 98% of top 100 customers for over 10 years.
High patient satisfaction, with 80% rating care 9 out of 10, and delivers 25% lower claim costs for employers.
Growth strategy and operational execution
Growth driven by mid- to high-single-digit organic and semi-organic expansion, including over 70 acquisitions and de novo centers since 2016 at sub-3x revenue/EBITDA multiples.
Consistent 13% YoY growth in revenue and Adjusted EBITDA in 2025, with >5% CAGR over three years.
Flexible, variable cost structure with over 80% of service expenses variable, enabling efficient scaling and margin stability.
Strong execution on large acquisitions and successful spin-off, with integration nearly complete.
Limited exposure to government reimbursement (<1% of revenue), reducing regulatory risk.
Financial performance and capital allocation
FY 2025 revenue guidance of $2.145–$2.2B and Adjusted EBITDA of $425–$430M, with 19.8–20% adjusted EBITDA margins for five consecutive years.
Free cash flow conversion >100%, generating nearly $1B since 2021, with $176M in trailing twelve months.
ROIC at 13.5% as of September 2025, with a dividend yield of 1.3% and $100M share buyback program.
Deleveraging focus, targeting net leverage below 3.0x by end of 2026, with flexibility for accretive M&A.
Smaller M&A and de novo investments prioritized until larger integrations are finalized.
Annualized impact of recent acquisitions
How is 25% lower cost per claim achieved
Strategy to achieve <3.0x net leverage by 2026
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Next Concentra Group Holdings Parent earnings date
Q4 20253 Mar, 2026
Concentra Group Holdings Parent
Next Concentra Group Holdings Parent earnings date
Q4 20253 Mar, 2026
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Frequently asked questions
Concentra Group Holdings Parent Inc. provides comprehensive occupational health services across the United States. The company operates a network of occupational health centers and onsite clinics, delivering services that include workers' compensation injury care, urgent care, clinical testing, preventative care, and various employer services. Concentra also offers telemedicine solutions for the treatment of work-related injuries and illnesses and manages pharmacy services and compliance programs for employers. It is headquartered in Mechanicsburg, Pennsylvania, and its shares are listed on the NYSE.
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