Select Medical Holdings Corporation and Concentra Group Holdings Parent, Inc. Announce Pricing of Offering of $650 Million of 6.875% Senior Notes due 2032 by Concentra Escrow Issuer Corporation

Core Viewpoint - Select Medical Holdings Corporation and Concentra Group Holdings Parent, Inc. announced the pricing of $650 million aggregate principal amount of 6.875% senior notes due 2032 as part of a plan to separate Concentra, its occupational health services business [1] Group 1: Offering Details - The offering consists of senior notes priced at 6.875% and is due in 2032 [1] - Concentra plans to use $50 million of the net proceeds for general corporate purposes, with the remainder to be paid to Select Medical Corporation as a dividend [2] - The closing of the offering is not conditioned on the consummation of the Merger, which is expected in the third quarter of 2024 [6] Group 2: Merger and Separation - The notes will be guaranteed by Concentra and certain subsidiaries upon the consummation of the Merger, which involves merging Concentra Escrow Issuer Corporation with Concentra Health Services, Inc. [1] - If the Merger is not completed by September 30, 2024, the notes will be subject to a special mandatory redemption at 100% of the initial issue price plus accrued interest [6] Group 3: Regulatory and Compliance - The notes are being offered in a private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S [7] - The notes and related guarantees have not been registered under the Securities Act and may not be offered or sold in the U.S. without registration or an exemption [7]