Concentra to prepay some term debt with asset sale proceeds

By Sara Rosenberg

New York, Feb. 8 - Concentra Operating Corp. plans to repay some of its senior term loan debt using $255 million of the proceeds it will receive from the sale of its workers' compensation managed care services business units to Coventry Health Care, Inc., according to a company news release.

The transaction is expected to be completed in 90 to 180 days, subject to closing conditions as well as regulatory and other customary approvals.

Concentra is an Addison, Texas, provider of services designed to contain health care and disability costs.

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