Health insurer Humana Inc. says it plans to purchase Texas-based health care company Concentra Inc. in an approximately $790 million cash deal.
Humana Chairman and CEO Michael B. McCallister said Monday that the acquisition will reinforce Humana's core business while diversifying revenue and creating expansion opportunities.
Concentra, based in Addison, Texas, delivers occupational medicine, urgent care, physical therapy and wellness services from more than 300 medical centers in 42 states.
Nearly 3 million Humana medical members live near a Concentra center.
The transaction still has to gain regulatory approval but is expected to close next month.