July 24 (Reuters) - Concentra Group set the

pricing of its U.S. initial public offering (IPO) at a valuation

of $2.97 billion, the U.S. healthcare firm said on Wednesday.

The company, which is a unit of Select Medical ( SEM ),

priced its IPO at $23.5 apiece, close to the lower end of its

targeted range of $23 to $26. It aims to raise around $528.8

million.

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 ( SEM ) announced its plan to

pursue the separation of Concentra and to create two independent

and publicly traded companies.

Concentra is expected to begin trading on the New York

Stock Exchange on July 25 under the ticker symbol "CON".