Healthcare firm Concentra eyes $3.3 billion valuation in US IPO

(Reuters) - Concentra Group, a Select Medical unit, is eyeing a valuation of $3.30 billion in its U.S. initial public offering, joining a growing list of firms testing the market after a near two-year dry spell.

The occupational health services company is aiming to sell 22.50 million shares in the offering, priced between $23 and $26 apiece, to raise as much as $585 million, it revealed in a regulatory filing on Monday.

U.S. IPOs are on the road to recovery as stock markets scale record highs and the economy shows resilience in the face of higher interest rates, giving companies the confidence to move ahead with their listings.

Concentra, founded in 1979, is now the largest provider of occupational health services in the United States by number of locations, according to its IPO prospectus.

Earlier this year, Select Medical had announced its plan to pursue the separation of Concentra, aiming to create two independent and publicly traded companies.

Concentra is set to list on the New York Stock Exchange and trade under the ticker symbol "CON".

J.P. Morgan, Goldman Sachs and BofA Securities are the lead underwriters for the offering.

(Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli and Shreya Biswas)