Humana to buy TX-based Concentra for $790 million

Health insurer Humana Inc. wants to buy Addison-based health care provider Concentra Inc.

Humana said Monday it will pay $790 million in cash for Concentra. The deal is expected to close next month.

Concentra is a private health system with 300 stand-alone medical centers. Fourteen medical centers are in North Texas.

These centers will continue to operate under Concentra's name. It will be a separate business with Humana.

Concentra started looking for buyers in July. Four factors convinced Concentra chief executive James Greenwood that it was the right time to sell the 31-year-old company.