Pivot Onsite Solutions Acquired by Concentra (~8.9x EBITDA)
- Will Hamilton
- Apr 23, 2025
- 2 min read
On April 21, 2025, Concentra Group Holdings Parent, Inc. (NYSE: CON), the nation’s largest provider of occupational health services, announced the acquisition of Pivot Onsite Innovations, a leading provider of employer‑based onsite health clinics, from Athletico Physical Therapy for approximately $55 million in cash and assumed adjustments. Pivot operates over 200 onsite health clinics at employer locations across more than 40 states, offering occupational health, wellness, prevention and performance services. The transaction significantly expands Concentra’s footprint in direct‑to‑employer care, more than doubling the size of its Onsite Health operating segment to approximately 350 clinics, with key leadership from Pivot transitioning to Concentra to support integration and continuity of care.
Strategically, the deal strengthens Concentra’s position in the rapidly growing workplace health and employer‑sponsored care market, where integrated onsite services are increasingly valued for reducing costs, improving employee health outcomes and enhancing productivity. The combined platform enables Concentra to deliver a broader suite of services from occupational medicine to advanced primary care and wellness programs at scale, aligning with employer demand for streamlined, preventive healthcare offerings on‑site. The acquisition also underscores continued consolidation in the occupational health services space, as large providers pursue organic growth and network scale to differentiate service delivery and capture value in direct employer contracting and population health management.
Occupational Medicine EBITDA Multiples
According to the investor presentation, the transaction represents a prospective multiple of under 9x EBITDA (post synergy). Revenue is $60m according to the investor presentation, implying a revenue multiple of 0.94x.
Healthcare Professional Services M&A Deal Volume
The number of announced U.S. professional services deals (licensed healthcare provider groups like physicians, dentists, and physical therapists) declined again in 2025. Volume averaged 25 per quarter in 2025, down from 270 per quarter in 2024, 295 per quarter in 2023, and 298 in 2022. Generally, continued growth in the dentistry and medspa / aesthetics segments have offset modest declines across most of the remaining segments, including significant declines among physician practices.
Other Professional Services Deals
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About Scope Research
The Scope Research Healthcare M&A Valuation Database currently has financial details related to 434 dentistry, physical therapy, and physician practice deals, segmented by specialty, including 290 deals with disclosed EBITDA multiples. The data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
Don't hesitate to reach out to Will Hamilton at will@scoperesearch.co with questions about your specific situation.
