By Josh Beckerman
Shares of occupational health company Concentra Group Holdings Parent rose after the company completed its spin-off from Select Medical Holdings.
Concentra stock was up 7.8%, to $23.85, midday trading Tuesday. Shares of hospital and clinic operator Select Medical rose 2.2%, to $21.30.
Select Medical said last January that it would pursue the separation of Concentra, seeking to increase shareholder value and help each company focus on strategic priorities.
Concentra's July initial public offering priced at $23.50 a share. On Nov. 6, Select Medical said it approved a special stock distribution of the 104.1 million Concentra shares it owned at the time.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 26, 2024 14:12 ET (19:12 GMT)
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