Humana Closes Sale Of Concentra

(RTTNews) - Humana Inc (HUM) on Monday said it has completed the sale of the stock of its wholly-owned subsidiary, Concentra Inc, to MJ Acquisition Corp for about $1.055 billion in cash, subject to customary adjustments.

MJ Acquisition is a joint venture between Select Medical Holdings Corp (SEM), an operator of specialty hospitals and outpatient rehabilitation clinics, and Welsh, Carson, Anderson & Stowe XII L.P., a private equity fund.

As previously disclosed, Humana anticipates recognition of a one-time gain from the sale of Concentra during the year ending December 2015 in the range of $1.35 to $1.45 per share, including the $0.35 per share tax benefit recognized in the quarter ended March 2015 related to the then pending sale.