In corporate news:

Humana’s sale of occupational health and physical therapy unit Concentra is considered a passive move for the company to exit workers’ comp, according to several industry reports. Humana announced the $1.06 billion sale earlier this week. M.J. Acquisition Corp., a joint  venture of Select Medical Holdings Corp., which operates specialty hospitals and outpatient rehabilitation clinics, and New York-based private equity firm Welsh, Carson, Anderson & Stowe, is the buyer. In a prepared statement, Humana indicates that Concentra was originally purchased in December 2010 “as part of a series of efforts to expand convenient, affordable high-quality healthcare for its membership base,” but that “as [Humana’s] strategy has been refined over the past several years, the primary care platform has proven to better advance the company’s integrated care delivery model than Concentra’s focus on occupational injuries.”

Read the full release from Humana via WorkCompWire here. Read further coverage from Business Insurance here.

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