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Concentra Operating Corporation Announces Commencement of Exchange Offers in Connection with Planned Separation of Its Two Principal Operating Segments.

Article Excerpt
ADDISON, Texas -- Concentra Operating Corporation ("Concentra Operating") today announced that its parent, Concentra Inc. ("Concentra" or the "Company") has commenced offers to Eligible Holders (as described below) to exchange a combination of cash and $185 million aggregate principal amount of a new series of 9 7/8% Senior Subordinated Notes due 2017 ("Viant Notes") of Concentra Operating's newly formed, wholly owned subsidiary, Viant Holdings, Inc. ("Viant"), for any and all of Concentra Operating's $155 million in aggregate principal amount of 9 1/8% Senior Subordinated Notes due 2012 (CUSIP 20589QAM1) and $180 million in aggregate principal amount of 9 1/2% Senior Subordinated Notes due 2010 (CUSIP 20589QAE9) (together, the "Old Notes"). In conjunction with the exchange offers, Concentra is also soliciting consents to amend the indentures governing the Old Notes. Concentra will pay the applicable consent payment to each Eligible Holder of Old Notes only if the holder has delivered and not revoked a valid consent by the consent payment deadline. Consummation of the exchange offers is subject to a number of conditions, including the absence of certain adverse legal and market developments and the valid tender of at least...

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