8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                               ------------------

                                    FORM 8-K
                                 CURRENT REPORT

                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

         DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): July 24, 2002

                               -------------------

                         CONCENTRA OPERATING CORPORATION
             (Exact name of Registrant as specified in its charter)
                                                                          
               Nevada                             001-15699                           75-2822620
          (State or other                  (Commission File Number)                (I.R.S. Employer
   jurisdiction of incorporation)                                               Identification Number)

        5080 Spectrum Drive
       Suite 400 - West Tower                                                           75001
           Addison, Texas                                                             (Zip code)
       (Address of principal
         executive offices)



       Registrant's telephone number, including area code: (972) 364-8000

                                 Not Applicable
                  (former address if changed since last report)



Item 5. Other Events

See the press release attached hereto as Exhibit 99.1 dated July 24, 2002,
announcing Concentra Operating Corporation's completion of the redemption of
$47.5 million of its 13% Series A and Series B Senior Subordinated Notes.

Item 7. Financial Statements and Exhibits

(c) Exhibits

99.1    Press Release of the Registrant dated July 24, 2002



                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                        CONCENTRA OPERATING CORPORATION
                                        (Registrant)


                                        By:     /s/ Richard A. Parr II
                                           -------------------------------------
                                        Name:  Richard A. Parr II
                                        Title: Executive Vice President, General
                                               Counsel & Secretary

Date:  July 25, 2002



                                INDEX TO EXHIBITS

EXHIBIT
NUMBER

99.1     Press Release of the Registrant dated July 24, 2002

EX-99.1

                                  EXHIBIT 99.1

[LOGO OF CONCENTRA]

Contacts:   Daniel J. Thomas               Thomas E. Kiraly
            President and                  Executive Vice President and
            Chief Executive Officer        Chief Financial Officer
            (972) 364-8111                 (972) 364-8217


              CONCENTRA OPERATING CORPORATION COMPLETES REDEMPTION
              OF $47.5 MILLION OF ITS 13% SENIOR SUBORDINATED NOTES

         ADDISON, Texas, July 24, 2002 - Concentra Operating Corporation
("Concentra") today announced that it has successfully completed the previously
announced redemption of $47.5 million of its 13% Series A and Series B Senior
Subordinated Notes. The redemption represents 25% of the $190 million in notes
that were issued in 1999. In connection with the redemption, Concentra paid a
13% premium over the face amount of the redeemed bonds.

         Concentra noted that the redemption will reduce its indebtedness and
interest expense, and will result in lower consolidated interest expense for its
parent corporation, Concentra Inc. To fund the redemption and related
transaction fees, Concentra Inc. borrowed $55 million in a bridge loan facility
from Salomon Smith Barney and Credit Suisse First Boston and contributed the
proceeds of the loan to Concentra as equity. The new debt has a term of two
years and requires no cash interest payments until maturity.

         Concentra Operating Corporation, the successor to and a wholly owned
subsidiary of Concentra Inc., is the comprehensive outsource solution for
containing healthcare and disability costs. Serving the occupational, auto and
group healthcare markets, Concentra provides employers, insurers and payors with
a series of integrated services which include employment-related injury and
occupational health care, in-network and out-of-network medical claims review
and re-pricing, access to specialized preferred provider organizations, first
notice of loss services, case management and other cost containment services.

         This press release contains certain forward-looking statements, which
the Company is making in reliance on the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that all
forward-looking statements involve risks and uncertainties, and that the
Company's actual results may differ materially from the results discussed in the
forward-looking statements. Factors that could cause or contribute to such
differences include, but are not limited to, the potential adverse impact of
governmental regulation on the Company's operations, changes in nationwide
employment and workplace injury trends, interruption in its data processing
capabilities, operational financing and strategic risks related to the Company's
capital structure and growth strategy, possible fluctuations in quarterly and
annual operations, possible legal liability for adverse medical consequences,
competitive pressures, adverse changes in market conditions for the Company's
services, and dependence on key management personnel. Additional factors include
those described in the Company's filings with the Securities and Exchange
Commission.

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