Select Medical to repay Concentra loans via new notes, proposed loan

By Sarah Lizee

Olympia, Wash., Dec. 5 – Select Medical Corp. plans to use proceeds from new notes and an incremental term loan to make an intercompany loan to joint venture subsidiary Concentra, Inc., the proceeds of which will be used to repay in full all of Concentra’s outstanding term loans.

The company plans to price a $625 million add-on to its 6¼% senior notes due 2026, according to a press release.

Cash on hand will also be used for the repayment, if needed.

Select Medical is a Mechanicsburg, Pa.-based health care company.

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