No, I’m not obsessed. At least not with the Concentra-FirstHealth merger. But information keeps popping up about various aspects of the deal that a few readers actually find very interesting.
The latest concerns the IME business.
In November, 2001 Concentra bought NHR, a big provider of Independent Medical Exams in the work comp world. An IME is an exam of a work comp claimant by an independent physician, with the objective being an objective determination of causality, treatment progress, suitability for work, and/or myriad other issues.
After the NHR acquisition, Concentra’s IME business had $92 million in annual revenue. Sources indicate it is now about $28 million.
That represents a 69% decline in revenue over a five year period.
Sources indicate that among the remaining $28 million are several blocks of business that may move to other vendors in the near term. And, Concentra has at least one large IME customer (auto insurance in MA) that they want to keep out of the deal.