EXHIBIT 99.1

[LOGO OF CONCENTRA]

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

CONCENTRA OPERATING CORPORATION REPORTS FOURTH QUARTER RESULTS

ADDISON, Texas, February 12, 2003 – Concentra Operating Corporation (“Concentra”) today announced results for the fourth quarter and year ended December 31, 2002. The Company reported consolidated Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”) of $27,663,000 for the quarter as compared to $25,385,000 for the same period in the prior year.

Revenue for the fourth quarter was $250,092,000 as compared to $228,605,000 for the fourth quarter of 2001. Operating income increased to $17,506,000 from $4,413,000 in the year-earlier period. The net loss for the fourth quarter of 2002 was $8,000 as compared to a net loss of $9,742,000 in the fourth quarter of 2001. The prior year’s results included unusual charges of $6,065,000 associated with the Company’s acquisition of National Healthcare Resources, Inc. (“NHR”) in November of 2001.

For the full year, primarily due to the Company’s fourth quarter 2001 acquisition of NHR, revenue grew to $999,050,000 during 2002 as compared to $856,903,000 in 2001. Operating income for 2002 increased to $78,816,000 from $67,543,000 for the prior year. In addition to the effects of the fourth quarter unusual charges described above, results for 2001 reflected higher amortization expenses due to the adoption of Statement of Financial Accounting Standards No. 142, “Goodwill and Other Intangible Assets” in January of 2002. The net loss for 2002 was $3,553,000 as compared to a net loss of $18,407,000 in 2001. EBITDA, as computed in a manner consistent with the definition set forth in the Indentures for the Company’s Subordinated Notes, was $123,429,000 during 2002 as compared to $123,649,000 during 2001.

“Our fourth quarter results reflected an excellent performance in our Network Services segment and a continuation of the improving visit trends in our Health Services business,” said Daniel Thomas, Concentra’s Chief Executive Officer. “Primarily due to growth in gross reviewed charges and improved bill review savings rates, our group health bill review and re-pricing services achieved an exceptional level of performance during the quarter. Additionally, the improving same-market patient visit growth trends, which began in March of 2002, continued through the fourth quarter. During the quarter, we achieved a positive same-market visit growth in our health centers of 0.6% and a same-market net revenue per visit growth rate of 1.9%. This compares to same-market visit declines of 6.2%, 2.1%, and 0.9% in the first, second and third quarters of 2002. These and other trends continue to demonstrate that we are recovering from the pressures imposed on our clinic business by the nation’s economic climate. Although we continue to seek improved profitability and renewed growth in our ‘later-stage’ workers compensation services, we have benefited from a stabilization in our performance and from the cost reduction initiatives which we put into place late in the third quarter and early in the fourth quarter. These efforts have been particularly helpful in addressing our results in the Care Management segment.

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Concentra Reports Fourth Quarter Results

Page 2

February 12, 2003

“I’m pleased we ended 2002 on a positive note,” said Thomas. “With the renewed growth in our Health Services business, a higher level of performance from our Network Services business and continuing operational improvements in our Care Management services, I feel we are well positioned to demonstrate meaningful growth in revenue and earnings during the coming year.”

The Company also reported that as of December 31, 2002, it had no borrowings outstanding on its $100,000,000 revolving credit facility, had cash and investment balances of $19,002,000 and achieved a reduction in its days sales outstanding (“DSO”) from 64 days at September 30^th to 62 days at December 31^st.

Effective December 1, 2002, Concentra completed its previously announced acquisitions of Em3 and OccMed. Due to the majority ownership by Welsh, Carson, Anderson & Stowe of Em3, OccMed and Concentra, in accordance with applicable accounting literature, the historical results of operations of the acquisitions have been consolidated with Concentra’s historical results of operations. The equity interests of other investors, which are 34% in the case of Em3 and 31% in the case of OccMed, are reflected as a “minority interest” in Concentra’s financial statements for periods prior to the date of acquisition.

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. Concentra provides its services to over 110,000 employers and 3,000 insurance companies, health plans and third party administrators nationwide.

A public, listen-only simulcast of Concentra’s fourth quarter conference call will begin at 9:00 a.m. Eastern Daylight Time tomorrow (February 13, 2003) and may be accessed via the Company’s web site, www.concentra.com. Investors are requested to access the call at least 15 minutes before the scheduled start time in order to complete a brief registration. An online replay will be available shortly after the conclusion of the live broadcast using the same link and will continue through March 13, 2003.

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 injury rate 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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Concentra Reports Fourth Quarter Results

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February 12, 2003

CONCENTRA OPERATING CORPORATION

a wholly owned subsidiary of

CONCENTRA INC.

Unaudited Consolidated Statements of Operations

(in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2002			2001			2002			2001
REVENUE:
Health Services	$	117,240		$	106,676		$	471,968		$	443,321
Network Services		61,646			52,422			230,299			185,267
Care Management Services		71,206			69,507			296,783			228,315
Total revenue		250,092			228,605			999,050			856,903
COST OF SERVICES:
Health Services		104,012			97,841			406,164			375,565
Network Services		34,468			30,904			138,218			110,187
Care Management Services		65,529			60,856			267,054			200,166
Total cost of services		204,009			189,601			811,436			685,918
Total gross profit		46,083			39,004			187,614			170,985
General and administrative expenses		28,717			24,098			106,222			81,631
Amortization of intangibles		1,060			4,428			3,776			15,746
Unusual charges		(1,200	)		546			(1,200	)		546
Charges for acquisition of affiliate		—			5,519			—			5,519
Operating income		17,506			4,413			78,816			67,543
Interest expense, net		15,027			16,409			63,582			66,398
(Gain)/loss on fair value of hedging arrangements		(1,307	)		(2,951	)		7,589			13,602
Loss on early retirement of debt		513			—			7,894			—
Loss of acquired affiliate, net of tax		—			3,226			—			5,833
Other, net		145			(1,347	)		(1,275	)		(3,640	)
Income (loss) before income taxes		3,128			(10,924	)		1,026			(14,650	)
Provision (benefit) for income taxes		3,136			(1,182	)		4,579			3,757
Net loss	$	(8	)	$	(9,742	)	$	(3,553	)	$	(18,407	)

Concentra’s fourth quarter and year ended December 31, 2001 bad debt expense of $3.9 million and $12.7 million, respectively, have been reclassified from a reduction to revenue to cost of services to conform to the classifications used in 2002. This reclassification resulted from a change in Concentra’s process and methodology for estimating bad debt and sales allowances during the first quarter of 2002.

Due to the acquisitions of Em3 Corporation and OccMed Systems, Inc. (the “Acquired Companies”), Concentra’s financial statements prior to December 1, 2002, have been restated to reflect the consolidation of the Acquired Companies’ financial statements, in accordance with accounting for reorganizations under common control. See the text of this earnings release for further information.

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Concentra Reports Fourth Quarter Results

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February 12, 2003

CONCENTRA OPERATING CORPORATION

a wholly owned subsidiary of

CONCENTRA INC.

Consolidated Balance Sheets

(in thousands)

	December 31, 2002		December 31, 2001
	(unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	19,002	$	8,950
Accounts receivable, net		167,561		181,757
Prepaid expenses and other current assets		39,407		36,677
Total current assets		225,970		227,384
PROPERTY AND EQUIPMENT, NET		134,981		142,244
GOODWILL AND OTHER INTANGIBLE ASSETS, NET		486,231		475,671
OTHER ASSETS		41,456		34,725
	$	888,638	$	880,024
LIABILITIES AND STOCKHOLDER’S EQUITY
CURRENT LIABILITIES:
Revolving credit facility	$	—	$	6,000
Current portion of long-term debt		3,825		4,211
Accounts payable and accrued expenses		108,513		130,858
Total current liabilities		112,338		141,069
LONG-TERM PORTION OF DEBT		476,001		552,270
DEFERRED INCOME TAXES AND OTHER LIABILITIES		90,056		74,097
FAIR VALUE OF HEDGING ARRANGEMENTS		33,472		25,883
STOCKHOLDER’S EQUITY		176,771		86,705
	$	888,638	$	880,024

Due to the acquisitions of Em3 Corporation and OccMed Systems, Inc. (the “Acquired Companies”), Concentra’s financial statements prior to December 1, 2002, have been restated to reflect the consolidation of the Acquired Companies’ financial statements, in accordance with accounting for reorganizations under common control. See the text of this earnings release for further information.

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Concentra Reports Fourth Quarter Results

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February 12, 2003

SUPPLEMENTAL INFORMATION

Concentra Operating Corporation’s (“Concentra”) historical results have been restated due to our acquisitions of Em3 Corporation (“Em3”) and OccMed Systems Inc. (“OccMed”), which were effective December 1, 2002. Because our primary shareholder, Welsh, Carson, Anderson & Stowe (“WCAS”), also controlled these two acquired companies, the accounting for these acquisitions is viewed as a reorganization of entities under common control. Accordingly, the historical costs of the acquired companies’ assets and liabilities have been utilized as if WCAS contributed their interests in the acquired companies to Concentra at their historical cost. The remainder acquired by Concentra was accounted for under the purchase method of accounting in accordance with Statement of Financial Accounting Standards No. 141, “Business Combinations,” whereby assets and liabilities are “stepped-up” to fair value with the remainder allocated to goodwill. Accordingly, we have consolidated Em3 and OccMed’s historical financial statements with those of Concentra, and the equity interests of other investors, which are 34% in the case of Em3 and 31% in the case of OccMed, have been reflected as a “minority interest” in our financial statements for periods prior to December 1, 2002.

Because of the accounting treatment described above, the amounts reported in our current consolidated financial statements differ from amounts previously reported in our 2000, 2001, and 2002 Forms 10-Q and 10-K. The enclosed supplemental schedules on pages 6 through 9 are provided to ensure that all investors have access to Concentra’s historical quarterly Balance Sheets and Statements of Operations based on the current presentation. As we have provided in the past, these supplemental schedules also reflect Concentra’s 2001 and 2002 quarterly and annual Reconciliations of Net Income to Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), which also give effect to the restated historical financial statements as described above. Computations of EBITDA have been provided in this press release primarily due to the use of this measure by the holders of the Company’s 13% Senior Subordinated Notes, and other lenders, for purposes of determining our performance in light of our debt covenant requirements, which are stated in our debt agreements as measures which relate to EBITDA. Please see each EBITDA schedule herein for a description regarding the limitations, computation and utilization of this measure.

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Concentra Reports Fourth Quarter Results

Page 6

February 12, 2003

CONCENTRA OPERATING CORPORATION

a wholly owned subsidiary of

CONCENTRA INC.

Unaudited Quarterly Consolidated Statements of Operations

(in thousands)

	Three Months Ended
	March 31, 2001			June 30, 2001			September 30, 2001			December 31, 2001			March 31, 2002			June 30, 2002			September 30, 2002			December 31, 2002
REVENUE:
Health Services	$	106,352		$	115,277		$	115,016		$	106,676		$	103,297		$	123,429		$	128,002		$	117,240
Network Services		42,345			45,331			45,169			52,422			57,229			56,260			55,164			61,646
Care Management Services		52,061			54,274			52,473			69,507			79,475			74,470			71,632			71,206
Total revenue		200,758			214,882			212,658			228,605			240,001			254,159			254,798			250,092
COST OF SERVICES:
Health Services		88,974			92,456			96,294			97,841			98,567			99,545			104,040			104,012
Network Services		26,247			27,301			25,735			30,904			33,551			35,437			34,762			34,468
Care Management Services		45,295			47,264			46,751			60,856			67,372			66,659			67,494			65,529
Total cost of services		160,516			167,021			168,780			189,601			199,490			201,641			206,296			204,009
Total gross profit		40,242			47,861			43,878			39,004			40,511			52,518			48,502			46,083
General and administrative expenses		18,671			20,133			18,729			24,098			22,498			27,127			27,880			28,717
Amortization of intangibles		3,677			3,813			3,828			4,428			932			931			853			1,060
Unusual charges		—			—			—			546			—			—			—			(1,200	)
Charges for acquisition of affiliate		—			—			—			5,519			—			—			—			—
Operating income		17,894			23,915			21,321			4,413			17,081			24,460			19,769			17,506
Interest expense, net		16,805			16,692			16,492			16,409			16,434			16,614			15,507			15,027
(Gain) loss on fair value of hedging arrangements		6,726			(3,646	)		13,473			(2,951	)		(5,190	)		6,374			7,712			(1,307	)
Loss on early retirement of debt		—			—			—			—			—			—			7,381			513
Loss of acquired affiliate, net of tax		1,116			426			1,065			3,226			—			—			—			—
Other, net		(290	)		(736	)		(1,267	)		(1,347	)		(688	)		(623	)		(109	)		145
Income (loss) before income taxes		(6,463	)		11,179			(8,442	)		(10,924	)		6,525			2,095			(10,722	)		3,128
Provision (benefit) for income taxes		(554	)		5,802			(309	)		(1,182	)		3,569			1,418			(3,544	)		3,136
Net (loss) income	$	(5,909	)	$	5,377		$	(8,133	)	$	(9,742	)	$	2,956		$	677		$	(7,178	)	$	(8	)

Due to the acquisitions of Em3 Corporation and OccMed Systems, Inc. (the "Acquired Companies"), Concentra's financial statements prior to December 1, 2002, have been restated to reflect the consolidation of the Acquired Companies' financial statements, in accordance with accounting for reorganizations under common control. See the text of this earnings release for further information.

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Concentra Reports Fourth Quarter Results

Page 7

February 12, 2003

CONCENTRA OPERATING CORPORATION

a wholly owned subsidiary of

CONCENTRA INC.

Unaudited Consolidated Balance Sheets

(in thousands)

	March 31, 2001			June 30, 2001		September 30, 2001		December 31, 2001		March 31, 2002		June 30, 2002		September 30, 2002		December 31, 2002
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	7,358		$	8,836	$	14,711	$	8,950	$	8,331	$	45,105	$	10,591	$	19,002
Accounts receivable, net		165,586			173,685		170,903		181,757		176,887		179,920		177,737		167,561
Prepaid expenses and other current assets		26,184			28,100		27,774		36,677		37,171		40,855		44,488		39,407
Total current assets		199,128			210,621		213,388		227,384		222,389		265,880		232,816		225,970
PROPERTY AND EQUIPMENT, NET		112,143			116,306		118,143		142,244		140,577		137,469		136,139		134,981
GOODWILL AND OTHER INTANGIBLE ASSETS, NET		333,479			331,697		329,392		475,671		478,657		478,711		476,565		486,231
OTHER ASSETS		58,457			55,795		58,047		34,725		34,910		38,205		56,995		41,456
	$	703,207		$	714,419	$	718,970	$	880,024	$	876,533	$	920,265	$	902,515	$	888,638
LIABILITIES AND STOCKHOLDER'S EQUITY
CURRENT LIABILITIES
Revolving credit facility	$	17,000		$	—	$	—	$	6,000	$	21,500	$	—	$	6,000	$	—
Current portion of long-term debt		5,208			4,288		5,264		4,211		6,606		7,579		7,564		3,825
Accounts payable and accrued expenses		62,098			77,408		71,675		130,858		112,035		109,473		115,539		108,513
Total current liabilities		84,306			81,696		76,939		141,069		140,141		117,052		129,103		112,338
LONG-TERM PORTION OF DEBT		555,273			555,163		553,187		552,270		551,242		550,212		501,678		476,001
DEFERRED INCOME TAXES AND OTHER LIABILITIES		55,728			57,528		59,652		74,097		73,123		77,423		88,086		90,056
FAIR VALUE OF HEDGING ARRANGEMENTS		16,312			12,666		26,139		25,883		20,694		27,068		34,779		33,472
STOCKHOLDER'S EQUITY		(8,412	)		7,366		3,053		86,705		91,333		148,510		148,869		176,771
	$	703,207		$	714,419	$	718,970	$	880,024	$	876,533	$	920,265	$	902,515	$	888,638

Due to the acquisitions of Em3 Corporation and OccMed Systems, Inc. (the "Acquired Companies"), Concentra's financial statements prior to December 1, 2002, have been restated to reflect the consolidation of the Acquired Companies' financial statements, in accordance with accounting for reorganizations under common control. See the text of this earnings release for further information.

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Concentra Reports Fourth Quarter Results

Page 8

February 12, 2003

CONCENTRA OPERATING CORPORATION

a wholly owned subsidiary of

CONCENTRA INC.

Reconciliation of Net Income to EBITDA

(in thousands)

	Three Months Ended December 31,						Year Ended December 31,
	2002			2001			2002			2001
Net loss	$	(8	)	$	(9,742	)	$	(3,553	)	$	(18,407	)
Provision (benefit) for income taxes		3,136			(1,182	)		4,579			3,757
Interest expense, net		15,027			16,409			63,582			66,398
(Gain) loss on fair value of hedging arrangements		(1,307	)		(2,951	)		7,589			13,602
Loss on early retirement of debt		513			—			7,894			—
Loss of acquired affiliate, net of tax		—			3,226			—			5,833
Charges for acquisition of affiliate		—			5,519			—			5,519
Unusual charges		(1,200	)		546			(1,200	)		546
Depreciation expense		10,913			9,951			42,957			32,820
Amortization of intangibles		1,060			4,428			3,776			15,746
Minority share of depreciation, amortization, and interest		(471	)		(819	)		(2,195	)		(2,165	)
EBITDA	$	27,663		$	25,385		$	123,429		$	123,649

Computations of Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”) have been provided in this press release primarily due to the use of this measure by the holders of the Company’s 13% Senior Subordinated Notes, and other lenders, for purposes of determining our performance in light of our debt covenant requirements, which are stated in the Company’s debt agreements as measures which relate to EBITDA. Our computation of this measure may differ from that provided by other companies due to differences in the inclusion or exclusion of items in our computations as compared to that of others. Our measure of EBITDA has been made in a manner consistent with the requirements of the indenture which relates to our 13% Senior Subordinated Notes. EBITDA is a measure that is not prescribed for under Generally Accepted Accounting Principles (“GAAP”). EBITDA specifically excludes changes in working capital, capital expenditures and other items which are set forth on a cash flow statement presentation of a company’s operating, investing and financing activities, nor does it include the effects of interest expense, depreciation expense, amortization expense, taxes and other items which are included when determining a company’s net income. As such, we would encourage a reader not to use this measure as a substitute for the determination of net income, operating cash flow, or other similar GAAP-related measures, and to use it primarily for the debt covenant compliance purposes described above.

Due to the acquisitions of Em3 Corporation and OccMed Systems, Inc. (the “Acquired Companies”), Concentra’s financial statements prior to December 1, 2002, have been restated to reflect the consolidation of the Acquired Companies’ financial statements, in accordance with accounting for reorganizations under common control. See the text of this earnings release for further information.

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Concentra Reports Fourth Quarter Results

Page 9

February 12, 2003

CONCENTRA OPERATING CORPORATION

a wholly owned subsidiary of

CONCENTRA INC.

Reconciliation of Net Income to EBITDA

(in thousands)

	March 31, 2001			June 30, 2001			September 30, 2001			December 31, 2001			March 31, 2002			June 30, 2002			September 30, 2002			December 31, 2002
Net income (loss)	$	(5,909	)	$	5,377		$	(8,133	)	$	(9,742	)	$	2,956		$	677		$	(7,178	)	$	(8	)
Provision (benefit) for income taxes		(554	)		5,802			(309	)		(1,182	)		3,569			1,418			(3,544	)		3,136
Interest expense, net		16,805			16,692			16,492			16,409			16,434			16,614			15,507			15,027
(Gain) loss on fair value of hedging arrangements		6,726			(3,646	)		13,473			(2,951	)		(5,190	)		6,374			7,712			(1,307	)
Loss on early retirement of debt		—			—			—			—			—			—			7,381			513
Loss of acquired affiliate, net of tax		1,116			426			1,065			3,226			—			—			—			—
Charges for acquisition of affiliate		—			—			—			5,519			—			—			—			—
Unusual charges		—			—			—			546			—			—			—			(1,200	)
Depreciation expense		6,600			7,665			8,604			9,951			10,310			10,368			11,366			10,913
Amortization of intangibles		3,677			3,813			3,828			4,428			932			931			853			1,060
Minority share of depreciation, amortization and interest		(194	)		(417	)		(735	)		(819	)		(544	)		(578	)		(602	)		(471	)
EBITDA	$	28,267		$	35,712		$	34,285		$	25,385		$	28,467		$	35,804		$	31,495		$	27,663

Computations of Earnings Before Interest Taxes Depreciation and Amortization ("EBITDA") have been provided in this press release primarily due to the use of this measure by the holders of the Company's 13% Senior Subordinated Notes, and other lenders, for purposes of determining our performance in light of our debt covenant requirements, which are stated in the Company's debt agreements as measures which relate to EBITDA. Our computation of this measure may differ from that provided by other companies due to differences in the inclusion or exclusion of items in our computations as compared to that of others. Our measure of EBITDA has been made in a manner consistent with the requirements of the indenture which relates to our 13% Senior Subordinated Notes. EBITDA is a measure that is not prescribed for under Generally Accepted Accounting Principles ("GAAP"). EBITDA specifically excludes changes in working capital, capital expenditures and other items which are set forth on a cash flow statement presentatio

Due to the acquisitions of Em3 Corporation and OccMed Systems, Inc. (the "Acquired Companies"), Concentra's financial statements prior to December 1, 2002, have been restated to reflect the consolidation of the Acquired Companies' financial statements, in accordance with accounting for reorganizations under common control. See the text of this earnings release for further information.

-END-