Concentra is the largest occupational health services provider in the U.S. by number of locations, operating 628 stand-alone centers across 41 states. Concentra serves roughly 200,000 employer customers, treating approximately 53,000 patients per business day. The core business focuses on two services: workers' compensation injury care, handling diagnosis, treatment, physical therapy, and return-to-work management for injured employees; and employer services, including pre-employment physicals, drug screenings, and DOT physicals. Concentra sells directly to employers, who direct their employees to Concentra centers, with workers' comp payments flowing through insurance carriers or third-party administrators. Revenue is driven by visit volume and revenue per visit — workers' comp rates are set by state fee schedules and have historically grown around 3% annually, while employer services rates are negotiated directly with employers. The cost structure is predominantly labor, skewed toward medical assistants rather than RNs, giving Concentra flexibility to adjust staffing with visit volumes. Beyond the core centers, Concentra operates 411 onsite clinics embedded at employer worksites, providing occupational health and employer-sponsored primary care — a segment it doubled through the 2025 acquisition of Pivot Onsite Innovations. Concentra also runs telemedicine, pharmacy, and substance abuse testing administration businesses. Growth is driven by same-center volume and rate increases, de novo center openings, and acquisitions of small occupational health practices, which Concentra has historically acquired at under 3x post-synergy EBITDA.