Concentra Operating Corporation Extends Exchange Offer for $190,000,000; 13% Series A Senior Subordinated Notes Due 2009.Business Editors BOSTON--(BUSINESS WIRE)--March 6, 2000 Concentra Operating Corporation ("Concentra") today extended its offer to exchange the outstanding, unregistered 13% senior subordinated notes of Concentra for new, substantially identical 13% senior subordinated notes that will be free of the transfer restrictions that apply to the old notes. The exchange offer, which originally had an expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of March 6, 2000, is now scheduled to expire at 5:00 p.m. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on March 15, 2000, unless again extended. To date approximately $180,590,000 in principal amount of old notes have been tendered for exchange. Concentra Operating Corporation is the successor to and a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Concentra Managed Care, Inc. Concentra is the leading provider and comprehensive outsource solution for cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. and fully integrated care management in the occupational, auto, and group healthcare markets. Concentra offers prospective and retrospective services to employers and insurers of all sizes, providing pre-employment testing, loss prevention services, first report of loss, injury care, specialist networks and specialized cost containment to the disability and automobile injury markets. Currently, the Company operates the nation's largest network of occupational healthcare facilities, with 210 centers located in 63 markets in 32 states. The Company has approximately 1,050 field case managers who provide medical management and return to work services in 49 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , and Canada. The Company also has 86 service locations that provide specialized cost containment services including utilization management Utilization management is the evaluation of the appropriateness, medical need and efficiency of health care services procedures and facilities according to established criteria or guidelines and under the provisions of an applicable health benefits plan. , telephonic case management, first notice of loss reporting, and retrospective bill review. |
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