Core Viewpoint - Concentra Group (CON) has seen a 2.9% increase in share price over the past four weeks, closing at $22.03, with a mean price target of $28 indicating a potential upside of 27.1% [1] Price Targets and Analyst Consensus - The average price target consists of eight estimates ranging from a low of $25 to a high of $30, with a standard deviation of $1.85, suggesting a potential increase of 13.5% to 36.2% from the current price [2] - A low standard deviation indicates a high degree of agreement among analysts regarding the stock's price movement, which can serve as a starting point for further research [9] Earnings Estimates and Market Sentiment - Analysts are optimistic about CON's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which historically correlates with stock price movements [11] - Over the last 30 days, the Zacks Consensus Estimate for the current year has increased by 1.5%, with three estimates moving higher and no negative revisions [12] Zacks Rank and Investment Potential - CON holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, suggesting a strong potential for upside in the near term [13]

Company Overview - Benitec Biopharma Limited (BNTC) is a notable stock within the Medical sector, currently ranked 5 in the Zacks Sector Rank, which evaluates 16 different groups based on the average Zacks Rank of individual stocks [2] - BNTC has a Zacks Rank of 2 (Buy), indicating a favorable outlook based on earnings estimate revisions and improving earnings prospects [3] Performance Metrics - Over the past 90 days, the Zacks Consensus Estimate for BNTC's full-year earnings has increased by 61.8%, reflecting improved analyst sentiment and a more positive earnings outlook [4] - Year-to-date, BNTC has returned 7.7%, significantly outperforming the average return of -5.6% for Medical companies as a whole [4] - In the Medical - Biomedical and Genetics industry, which includes 506 stocks, BNTC is performing better than the average loss of 6.5% this year, currently ranked 77 in the Zacks Industry Rank [6] Comparative Analysis - Another outperforming stock in the Medical sector is Concentra Group (CON), which has returned 14.9% year-to-date and has a Zacks Rank of 2 (Buy) [5] - Concentra Group belongs to the Medical Services industry, which has seen a year-to-date decline of -2.4% and consists of 58 stocks currently ranked 51 [6] Future Outlook - Investors interested in Medical stocks should monitor Benitec Biopharma Limited and Concentra Group for potential continued strong performance [7]

Summary of Concentra Group Holdings Parent (CON) 2025 Conference Call Company Overview - Concentra is the largest primary care provider of occupational health care services in the United States, focusing on workplace health and injury management [1][2] - The company treats approximately 20% of all workers' compensation injuries in the U.S., working with over 215,000 employers [3][4] Core Business Lines - **Workers' Compensation Services**: - Majority of visits are related to musculoskeletal injuries, with 40-50% referred to therapy [7][8] - Reimbursement is based on state fee schedules, which vary by state [10][11] - **Employer Services**: - Includes drug screenings and physicals, with direct negotiations for pricing with employers [12][9] - Services are fee-for-service, with no capitation or at-risk payments [13] - **On-site Services and Telemedicine**: - Concentra offers on-site health services at employer locations and a telemedicine platform, expanding their service offerings [16][17] Financial Performance and Growth Strategy - Revenue growth is targeted in the mid to high single digits, driven by same-center visits, pricing adjustments, and small acquisitions [18][21] - Workers' compensation volumes were flat in Q1, but positive growth was observed in subsequent months [22][23] - Employer Services experienced a decline post-COVID but showed signs of recovery with a 10-15% increase in volume [25][46] Market Dynamics - The company operates in a diversified market, with no single industry representing more than 10% of revenues [29] - Historical resilience during economic downturns, with modest declines in EBITDA during the global financial crisis [30][31] Pricing and Rate Adjustments - Workers' compensation rates are influenced by state fee schedules, with an average growth of 3% historically [19][37] - Approximately 20 states have a Consumer Price Index (CPI) or Medical Economic Index (MEI) tied to their fee schedules, allowing for potential rate increases in line with inflation [39][40] Future Outlook - Positive trends in both workers' compensation and employer services are expected to continue, contingent on economic stability [27][47] - The company is focused on integrating recent acquisitions and reducing leverage, targeting a leverage ratio of 3.0x within 18-24 months [62][63] Additional Insights - The company is exploring new service offerings, such as background checks, to enhance employer services [53] - Behavioral health services are being expanded through telemedicine, reflecting growing demand [59] This summary encapsulates the key points discussed during the conference call, highlighting Concentra's business model, financial performance, market dynamics, and future growth strategies.

Group 1 - Concentra Group (CON) closed at $21.40, with a 5.5% gain over the past four weeks, and a mean price target of $28 suggests a 30.8% upside potential [1] - The average price targets range from $25 to $30, with a standard deviation of $1.85, indicating a low variability among analysts' estimates [2] - Analysts are optimistic about CON's earnings prospects, with a positive trend in earnings estimate revisions, which historically correlates with stock price movements [4][11] Group 2 - The Zacks Consensus Estimate for the current year has increased by 1.5% over the past month, with three estimates revised higher and no negative revisions [12] - CON holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While the consensus price target may not be a reliable indicator of the stock's potential gain, it does suggest a positive direction for price movement [13]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $500.8 million, a 7.1% increase from $467.6 million in Q1 2024, representing an 8.9% growth on a revenue per day basis [8][11] - Adjusted EBITDA increased to $102.7 million in Q1 2025 from $96.1 million in Q1 2024, a 6.8% increase, with adjusted EBITDA margin slightly decreasing from 20.6% to 20.5% [8][18] - Net income was $40.6 million, lower than the same quarter last year, primarily due to increased interest expenses and transaction costs related to acquisitions [9][10] Business Line Data and Key Metrics Changes - Total patient visits per day increased by 3.2% year over year to 50,900, with a 0.6% increase to 49,600 when excluding the Nova acquisition [5][11] - Workers' compensation revenue was $302.1 million, an 8% increase year over year, with visits per day up 2.4% [12] - Employer services revenue increased by 6.2% to $160.1 million, with visits per day up 3.9% [13] Market Data and Key Metrics Changes - The company reported strong growth in both workers' compensation and employer services, indicating a positive trend in the occupational health market [6][9] - The acquisition of Nova Medical Centers and other strategic acquisitions are expected to enhance market presence and service offerings [7][22] Company Strategy and Development Direction - The company is focused on expanding its footprint through acquisitions, with the recent Nova acquisition and plans for the Pivot On-site acquisition, which will significantly increase its operational scale [7][24] - The strategy includes enhancing employer relationships and scaling the on-site health segment, which is projected to double in revenue due to the Pivot acquisition [24][25] - The company aims to maintain a leverage ratio of approximately 3.5 times by the end of 2025 and 3.0 times within the next 18 to 24 months, focusing on debt repayment and organic growth initiatives [26] Management's Comments on Operating Environment and Future Outlook - Management noted that despite macroeconomic uncertainties, there has been no observed impact on visit volumes, which is seen as a positive indicator [27][28] - The company is well-positioned to handle potential economic slowdowns, leveraging its history of managing costs effectively during downturns [31][32] - Future growth is anticipated from potential increases in manufacturing jobs due to reshoring efforts, which could drive visit growth at the company's centers [28][29] Other Important Information - The company declared a cash dividend of $0.0625 per share, payable on May 29, 2025 [21] - The company ended Q1 2025 with a total debt balance of $1.6 billion and a cash balance of $52 million, with a net leverage ratio of 3.9 times [20] Q&A Session Summary Question: Discussion on Employer Services volumes and turnaround - Management indicated that the positive performance in Employer Services volumes is attributed to improved sales and marketing efforts, with cautious optimism for continued growth [39][41] Question: Future growth with recent acquisitions - Management emphasized the importance of scaling operations and enhancing partnerships within the managed care ecosystem to drive future growth [43][44] Question: Workers' compensation visit growth and long-term outlook - Management acknowledged that while organic growth was slightly slower than expected, they anticipate positive growth moving forward [53][54] Question: Impact of inflation on rates - Management explained that rates typically adjust in line with inflation, with historical patterns showing timely adjustments to fee schedules [61][64] Question: Cost structure and labor efficiency - Management highlighted that labor constitutes a significant portion of costs, with teams effectively managing staffing levels in response to visit volumes [102][103]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $500.8 million, a 7.1% increase from $467.6 million in Q1 2024, representing an 8.9% growth rate on a revenue per day basis [8][12] - Adjusted EBITDA was $102.7 million, up 6.8% from $96.1 million in the same quarter last year, with a slight decrease in adjusted EBITDA margin from 20.6% to 20.5% [8][19] - Net income was $40.6 million, lower than the same quarter last year primarily due to increased interest expenses and transaction costs related to acquisitions [10][19] Business Line Data and Key Metrics Changes - Total patient visits per day increased 3.2% year over year to 50,900, with a 0.6% increase to 49,600 when excluding the Nova acquisition [5][12] - Workers' compensation revenue was $302.1 million, an 8% increase year over year, with visits per day up 2.4% [13] - Employer services revenue increased 6.2% to $160.1 million, with visits per day up 3.9%, marking a turnaround from previous declines [14][19] Market Data and Key Metrics Changes - The company reported strong growth in both workers' compensation and employer services, indicating a positive trend in visit volumes across all service lines [6][10] - The acquisition of Nova Medical Centers contributed positively to the company's performance, although it only accounted for one month of results in Q1 [4][10] Company Strategy and Development Direction - The company is focused on corporate development, having recently completed several acquisitions, including Nova and Physician Health Center, and is set to close the Pivot On-site acquisition [7][25] - The strategy includes expanding the on-site health clinics business, which is expected to double revenue in that segment and enhance overall service offerings [24][25] - The company aims to maintain a leverage ratio of approximately 3.5 times by the end of 2025 and is committed to deleveraging while focusing on organic growth initiatives [26][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current macroeconomic environment, noting no observed impact on visit volumes despite broader economic uncertainties [28][29] - The company is well-positioned to handle potential economic slowdowns, leveraging its history of managing costs effectively during downturns [31][32] - Future growth is anticipated from potential increases in manufacturing jobs due to reshoring efforts, which could drive visit growth at the company's centers [30][32] Other Important Information - The company declared a cash dividend of $0.0625 per share, payable on May 29, 2025 [22] - The company ended Q1 2025 with a total debt balance of $1.6 billion and a cash balance of $52 million, with a net leverage ratio of 3.9 times [21] Q&A Session Summary Question: Discussion on Employer Services volumes and turnaround - Management noted that the turnaround in employer services was aided by improved sales and marketing efforts, leading to increased optimism among employers [38][40] Question: Future growth with recent acquisitions - Management highlighted that the acquisitions enhance partnerships within the managed care ecosystem, driving additional volume and growth opportunities [42][44] Question: Workers' compensation performance and outlook - Management acknowledged that while organic growth was slightly slower than expected, they anticipate continued positive growth in the future [51][52] Question: Impact of inflation on rates - Management indicated that rates typically adjust in line with inflation, with historical patterns showing timely updates to fee schedules [58][60] Question: Cost of services performance and labor efficiencies - Management confirmed that labor efficiencies and revenue increases contributed to lower costs as a percentage of revenue, with ongoing investments in technology to enhance efficiency [62][64] Question: Guidance update and acquisition impacts - Management clarified that the updated guidance includes contributions from recent acquisitions, with expectations for continued strong performance [66][68]

Financial Performance - Concentra's Q1 2025 total revenue reached $5008 million, a 71% year-over-year increase[14] - Adjusted EBITDA for Q1 2025 was $1027 million, up 68% compared to Q1 2024[14] - The company is raising its FY 2025 revenue guidance to between $21 billion and $215 billion, and adjusted EBITDA guidance to between $415 million and $430 million[12] - TTM (Trailing Twelve Months) Revenue is $19 billion and TTM Adjusted EBITDA is $383 million[6] - TTM Adjusted EBITDA margin is 198%[10] Acquisitions and Expansion - Concentra completed the acquisitions of Nova (+67 centers) and PHC (+5 centers)[12] - The company announced the acquisition of Pivot Onsite Innovations (200+ onsite health clinics)[12] - Three de novo locations were opened in Q1 2025, with 3-4 more expected by year-end[12] - The purchase price for Pivot Onsite Innovations is $55 million[18] Operational Metrics - Concentra operates 627 occupational health centers and 160 onsite health clinics[6] - Visits per day (VPD) increased by 32% year-over-year, reaching 509k in Q1 2025[14] - Revenue per visit (RPV) increased by 56% year-over-year, reaching $14694 in Q1 2025[14]

Core Insights - Concentra Group reported quarterly earnings of $0.32 per share, exceeding the Zacks Consensus Estimate of $0.31 per share, but down from $0.47 per share a year ago, representing an earnings surprise of 3.23% [1] - The company generated revenues of $500.75 million for the quarter, surpassing the Zacks Consensus Estimate by 0.19% and showing an increase from $467.6 million year-over-year [2] - Concentra has outperformed the S&P 500, with shares rising approximately 9.7% since the beginning of the year, while the S&P 500 has declined by 4.7% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.38, with expected revenues of $536.22 million, and for the current fiscal year, the EPS estimate is $1.34 on revenues of $2.1 billion [7] - The estimate revisions trend for Concentra is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Medical Services industry, to which Concentra belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

PART I [Condensed Consolidated Financial Statements](index=3&type=section&id=ITEM%201.%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) The company reported **$500.8 million** revenue, up **7.1%**, but net income decreased to **$38.9 million** due to higher interest and acquisition costs, while total assets grew to **$2.73 billion** from the Nova acquisition [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$2.73 billion** driven by goodwill and intangibles from the Nova acquisition, while liabilities rose due to long-term debt and cash significantly decreased Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | Cash | $52,109 | $183,255 | ($131,146) | | Goodwill | $1,444,563 | $1,234,707 | $209,856 | | Total Assets | $2,729,238 | $2,521,164 | $208,074 | | Long-term debt, net of current portion | $1,618,473 | $1,468,917 | $149,556 | | Total Liabilities | $2,398,177 | $2,222,440 | $175,737 | | Total Equity | $312,452 | $280,711 | $31,741 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Revenue grew **7.1%** to **$500.8 million** in Q1 2025, but net income attributable to the company fell to **$38.9 million** primarily due to a significant increase in interest expense and general and administrative costs Q1 2025 vs Q1 2024 Statement of Operations (in thousands, except EPS) | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Revenue | $500,752 | $467,598 | +7.1% | | Income from operations | $80,319 | $75,498 | +6.4% | | Interest expense | ($25,548) | ($111) | N/A | | Net income attributable to the Company | $38,911 | $48,956 | -20.5% | | Basic and diluted EPS | $0.30 | $0.47 | -36.2% | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow decreased to **$11.7 million** due to higher interest payments, while investing cash outflow surged to **$294.7 million** driven by the Nova acquisition, and financing activities provided **$151.9 million** from new debt Q1 2025 vs Q1 2024 Cash Flow Summary (in thousands) | Activity | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net cash provided by operating activities | $11,699 | $44,622 | ($32,923) | | Net cash used in investing activities | ($294,749) | ($22,352) | ($272,397) | | Net cash provided by (used in) financing activities | $151,904 | ($4,092) | $155,996 | | Net (decrease) increase in cash | ($131,146) | $18,178 | ($149,324) | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the **$265 million** Nova acquisition, an amended credit agreement increasing term loan to **$950 million** and revolving facility to **$450 million**, ongoing legal proceedings, and a subsequent **$55 million** acquisition of Pivot Onsite Innovations - Effective March 1, 2025, the company acquired Nova Medical Centers for a purchase price of approximately **$265 million**, adding 67 occupational health centers[80](index=80&type=chunk)[81](index=81&type=chunk) - In March 2025, the company amended its credit agreement, increasing the Term Loan to **$950 million** and the Revolving Credit Facility to **$450 million**, while also reducing the applicable interest rates[51](index=51&type=chunk) - The company is subject to ongoing legal matters, including a subpoena from the California Department of Insurance regarding billing practices and class action lawsuits related to a data breach at a third-party vendor, PJ&A[68](index=68&type=chunk)[69](index=69&type=chunk)[70](index=70&type=chunk) - Subsequent to the quarter end, on April 18, 2025, the company entered into an agreement to acquire Pivot Onsite Innovations for **$55 million**, which is expected to close in Q2 2025[100](index=100&type=chunk) - On May 6, 2025, the Board of Directors declared a quarterly cash dividend of **$0.0625 per share**[103](index=103&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management attributes **7.1%** revenue growth to the Nova acquisition and higher revenue per visit, but net income declined due to increased interest and acquisition costs, while Adjusted EBITDA grew **6.8%** to **$102.7 million** [Results of Operations](index=28&type=section&id=Results%20of%20Operations) Revenue for Q1 2025 increased **7.1%** to **$500.8 million** due to higher visits per day and revenue per visit, while cost of services decreased as a percentage of revenue, and G&A expenses rose due to acquisition and public company overhead Key Operating Metrics (Occupational Health Centers) | Metric | Q1 2025 | Q1 2024 | % Change | | :--- | :--- | :--- | :--- | | Total VPD Volume | 50,863 | 49,307 | 3.2% | | Total Revenue per visit | $146.94 | $139.09 | 5.6% | | Workers' comp. Revenue per visit | $209.09 | $195.29 | 7.1% | - The increase in General and Administrative expense was principally due to a favorable legal expense reversal in Q1 2024, stock compensation expense, Nova acquisition costs, and new employees to support standalone public company operations[134](index=134&type=chunk) - Interest expense increased significantly to **$25.5 million** due to the issuance of an **$850.0 million** term loan and **$650.0 million** senior notes in July 2024, plus an incremental **$102.1 million** term loan and **$50.0 million** in revolver borrowings in March 2025[136](index=136&type=chunk) [Non-GAAP Measures](index=30&type=section&id=Non-GAAP%20Measures) Adjusted EBITDA increased to **$102.7 million** in Q1 2025 with a stable margin of **20.5%**, while Adjusted Net Income Attributable to Common Shares was **$41.7 million**, or **$0.32 per share** Reconciliation of Net Income to Adjusted EBITDA (in thousands) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income | $40,642 | $50,279 | | Adjustments (Taxes, Interest, D&A, etc.) | $58,880 | $44,571 | | Nova acquisition costs | $3,137 | $— | | **Adjusted EBITDA** | **$102,659** | **$96,142** | | Adjusted EBITDA Margin | 20.5% | 20.6% | Reconciliation to Adjusted Earnings per Common Share | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income attributable to common shares (per share) | $0.30 | $0.47 | | Adjustments (Acquisition costs, etc.), net of tax | $0.02 | $0.02 | | **Adjusted Earnings per Common Share** | **$0.32** | **$0.49** | [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains solid liquidity with **$52.1 million** cash and **$386.4 million** available credit, financing the Nova acquisition with new debt and revolver borrowings, and committing **$55 million** for the Pivot Onsite Innovations acquisition - As of March 31, 2025, the company had **$52.1 million** in cash and **$386.4 million** of availability under its Revolving Credit Facility[159](index=159&type=chunk) - The company acquired Nova in March 2025 using a combination of **$102.1 million** of new debt, **$50.0 million** from its revolver, and cash on hand[153](index=153&type=chunk) - A new material cash commitment of **$55 million** exists for the acquisition of Pivot Onsite Innovations, expected to close in Q2 2025 and be financed with cash and revolver borrowings[154](index=154&type=chunk)[160](index=160&type=chunk) - On May 6, 2025, the Board of Directors declared a cash dividend of **$0.0625 per share**, payable on May 29, 2025[163](index=163&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company's primary market risk is interest rate risk on its **$1.0 billion** variable-rate debt, mitigated by derivative contracts fixing or capping rates on **$600 million**, with a **0.25%** rate increase impacting annual interest expense by **$1.5 million** - The company has **$1.0 billion** in variable-rate debt outstanding under its credit facilities as of March 31, 2025[168](index=168&type=chunk) - To mitigate interest rate risk, the company uses derivative contracts, including a swap fixing the rate on **$300 million** of debt at **3.829%** and a collar limiting the rate on another **$300 million** to between **3.001%** and **4.500%**[169](index=169&type=chunk)[170](index=170&type=chunk) - A hypothetical **0.25%** increase in market interest rates would increase the company's annual interest expense by **$1.5 million**[171](index=171&type=chunk) [Controls and Procedures](index=35&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during the first quarter - Management, including the principal executive and financial officers, concluded that disclosure controls and procedures are effective as of March 31, 2025[173](index=173&type=chunk) - No material changes to internal control over financial reporting were identified during the first quarter of 2025[174](index=174&type=chunk) PART II OTHER INFORMATION [Legal Proceedings](index=35&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company refers to Note 12 of the financial statements for details on legal proceedings, including an investigation by the California Department of Insurance and class-action lawsuits related to a third-party data breach - For information on legal proceedings, the report refers to Note 12—"Commitments and Contingencies" in the financial statements[178](index=178&type=chunk) [Risk Factors](index=35&type=section&id=ITEM%201A.%20RISK%20FACTORS) No material changes to risk factors were disclosed, except for a new risk concerning the potential negative impact of changes in U.S. tariff and import/export regulations and adverse macroeconomic conditions - A new risk factor was added concerning the potential negative effects of changes in U.S. tariffs, trade policies, and macroeconomic conditions on the company's business, financial condition, and results of operations[180](index=180&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company reported no unregistered sales of equity securities during the period - None[181](index=181&type=chunk) [Defaults Upon Senior Securities](index=35&type=section&id=ITEM%203.%20DEFAULTS%20UPON%20SENIOR%20SECURITIES) This item is not applicable to the company for the reporting period - Not applicable[182](index=182&type=chunk) [Mine Safety Disclosures](index=35&type=section&id=ITEM%204.%20MINE%20SAFETY%20DISCLOSURES) This item is not applicable to the company - Not applicable[183](index=183&type=chunk) [Other Information](index=35&type=section&id=ITEM%205.%20OTHER%20INFORMATION) During the first quarter ended March 31, 2025, none of the company's directors or executive officers adopted or terminated a Rule 10b5-1 trading plan or any other non-Rule 10b5-1 trading arrangement - No directors or executive officers adopted or terminated any Rule 10b5-1 trading plans during the three months ended March 31, 2025[184](index=184&type=chunk) [Exhibits](index=36&type=section&id=ITEM%206.%20EXHIBITS) This section lists key exhibits filed with the Form 10-Q, including the Nova Medical Centers equity purchase agreement, an amendment to the credit agreement, executive employment agreement amendments, and required CEO/CFO certifications - Key exhibits filed include the Equity Purchase Agreement for Nova Medical Centers, Amendment No. 1 to the Credit Agreement, and various amendments to executive employment agreements[185](index=185&type=chunk)

"Concentra reported a solid start to 2025 with strong revenue and Adjusted EBITDA growth in the first quarter. With a deep understanding of patient and client needs and market dynamics, we continue to execute on key drivers of growth and deliver a comparative market advantage. Maintaining this focus ensures we continue to achieve our strategic business objectives for the year," said Keith Newton, Chief Executive Officer of Concentra. NEWS RELEASE FOR IMMEDIATE RELEASE Concentra Group Holdings Parent, Inc. A ...