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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): OCTOBER 9, 1997
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CONCENTRA MANAGED CARE, INC.
(Exact name of Registrant as specified in its charter)
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<S> <C> <C>
DELAWARE 000-22751 04-3363415
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of incorporation) Identification Number)
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312 UNION WHARF
BOSTON, MASSACHUSETTS 02109
(Address of principal (Zip code)
executive offices)
Registrant's telephone number, including area code: (617) 367-2163
NOT APPLICABLE
(former address if changed since last report)
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ITEM 5. OTHER EVENTS
(a) COMPLETION OF ACQUISITION OF OCCUPATIONAL MEDICAL CENTERS OF
VENCOR, INC.
On October 9, 1997, Concentra announced that it consummated the purchase of
16 occuptational medicine centers from Vencor, Inc. For additional information
regarding the transactions comtemplated by such purchase, reference is made to
the Press Release attached to this Current Report as Exhibit 99.1 and
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(C) EXHIBITS
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99.1 Press Release of the Registrant dated October 9, 1997
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CONCENTRA MANAGED CARE, INC.
(Registrant)
By: /s/ Richard A. Parr II
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Name: Richard A. Parr II
Title: Executive Vice President and
General Counsel
Date: October 14, 1997
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INDEX TO EXHIBITS
EXHIBIT
NUMBER PAGE
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99.1 Press Release of Registrant dated October 9, 1997
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EXHIBIT 99.1
CONTACT:
Joseph F. Pesce
Chief Financial Officer
(617) 367-2163
FOR IMMEDIATE RELEASE
CONCENTRA MANAGED CARE, INC.
COMPLETES ACQUISITION OF VENCOR'S NETWORK OF OCCUPATIONAL
MEDICINE CENTERS
BOSTON, MASSACHUSETTS, (October 9, 1997) - Concentra Managed Care, Inc.
(Nasdaq/NM: CCMC) today announced that it has closed the purchase of 16
occupational medicine centers from Vencor, Inc. (NYSE: VC). Specific terms of
the cash transaction were not disclosed.
The network of centers, which was part of Vencor's March 1997 acquisition
of TheraTx, Incorporated, provides occupational medicine services in five
states. Vencor, a long-term healthcare company with over $3 billion in annual
revenues, owns and operates a national network of hospitals, nursing centers and
contract service providers in 46 states.
This acquisition expands Concentra's network of occupational healthcare
centers to three new states and four new markets and is expected to add
approximately $23 million to the company's annual revenues. For the year ended
December 31, 1996, Concentra's revenues totaled $350 million with net income of
$21 million. Concentra Managed Care is the nation's first fully integrated
managed care company focused on workers' compensation cost containment.
Concentra offers prospective and retrospective services to employers and
insurers of all sizes, providing pre-employment testing, loss prevention
services, first report of injury, injury care, specialist networks, specialized
cost containment services, and field case management for workers' compensation
as well as for the disability and automobile injury markets. The Company has
122 field case management offices, with approximately 1,225 field case managers
who provide medical management and return to work services in 49 states, the
District of Columbia, and Canada. The Company also has 83 service locations
that provide specialized cost containment services including utilization
management, telephonic case management, and retrospective bill review. Under
the name Concentra Medical Centers, the Company operates the nation's largest
network of occupational healthcare centers, currently managing the practices of
249 physicians located in 138 centers in 36 markets in 19 states.
