Hanger Orthopedic Group, Inc. Announces Three Acquisitions With Annual Revenues of $14.0 Million
BETHESDA, Md., June 22 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) announced that it continues to expand its geographic presence with the acquisition of Dynamic Orthotics and Prosthetics of Texas, Nebraska Orthotic and Prosthetic Services, and Spectrum Prosthetics and Orthotics of Iowa. The companies operate 10 offices with annual revenues of $14.0 million.
"These companies are leaders in their communities with high quality practitioners. They will greatly strengthen our presence and provide a base for future growth together," commented Thomas F. Kirk, President and Chief Executive Officer of Hanger Orthopedic Group. Mr. Kirk added, "As part of our growth strategy, we continue to identify premier service providers in strategic areas to complement our existing patient care centers."
Hanger Orthopedic Group, Inc., headquartered in Bethesda, Maryland, is the world's premier provider of orthotic and prosthetic patient care services. Hanger is the market leader in the United States, owning and operating 678 patient care centers in 45 states and the District of Columbia, with more than 3,700 employees, including 1,110 practitioners, as of March 31, 2010. Hanger is organized into four units. The two key operating units are patient care, which consists of nationwide orthotic and prosthetic practice centers, and distribution, which consists of distribution centers managing the supply chain of orthotic and prosthetic componentry to Hanger and third party patient care centers. The third is Linkia, which is the first and only provider network management company for the orthotics and prosthetics industry. The fourth unit, Innovative Neurotronics, introduces emerging neuromuscular technologies developed through independent research in a collaborative effort with industry suppliers worldwide. For more information on Innovative Neurotronics, Inc. or the WalkAideŽ, visit http://www.ininc.us. For more information on Hanger, visit http://www.hanger.com.
SOURCE Hanger Orthopedic Group, Inc.