Hanger logs 'best year' for acquisitions

Tuesday, October 30, 2012

AUSTIN, Texas – Hanger, Inc. announced Oct. 29 that it has acquired a total of 16 patient care companies in 15 states this year.

These patient care companies employ 150 clinicians and staff, and have total revenues of $35.6 million year to date, according to a press release.

“We have exceeded our goal to acquire sales of approximately $20 million in 2012,” stated President and CEO Vinit Asar. “In fact, 2012 is our best year in over 10 years in terms of the number of O&P acquisitions and sales acquired.”

It’s possible that Hanger may still make one or more additional acquisitions before year end, according to the release.

“Our pipeline of transactions remains healthy,” Asar stated.

Hanger has acquired the following patient care companies:

•    OrPro Inc.
•    Orthotic & Prosthetic Technologies Inc.
•    Innovative Prosthetic Care Inc.
•    MS Artificial Limb & Brace LLC
•    Innovative Prosthetic Care Tupelo LLC
•    Orthopedic Associates of Grand Rapids PC
•    Genesis Medical Group LLC
•    Gadsden Limb & Brace Inc.
•    Coosa Valley Limb & Brace, LLC
•    Northeast Alabama Prosthetics & Orthotics LLC
•    AKBK Inc. dba Crockett Prosthetics and Orthotics
•    Missoula Orthotics & Prosthetics Laboratories Inc.
•    Karsten Prosthetic Laboratories Inc.
•    Alpine Prosthetics & Orthotics LLC
•    Parr Prosthetics & Orthotics LLC
•    Nordlie Enterprises Inc. dba Premier Medical

Hanger provides orthotic and prosthetic patient care services, distributes O&P devices and components, and provides therapeutic solutions for the broader post-acute market.