In brief: Hanger launches investment arm, Joerns sells rental biz, Rhythm names COO

AUSTIN, Texas – Hanger has launched Hanger Ventures, a subsidiary designed to invest in entrepreneurs and small businesses and help bring innovative O&P health care solutions to the market.  

“Hanger Ventures will enable us to provide resources typically not accessible to entrepreneurs and small businesses, collaborating from incubation to commercialization,” said Pete Stoy, CEO. “This type of collaboration enables us to be at the forefront of innovation, with involvement in research and development centered around patient outcomes, ultimately providing more access and better care across the O&P community.” 

Hanger Chief Clinical Officer James Campbell, Ph.D., who leads the Hanger Institute and the company’s Clinical and Scientific Affairs division, will now also serve as president of Hanger Ventures. Campbell has 40 years of experience in the O&P profession, with a distinction in leadership and research, and is a named inventor on five issued U.S. patents. 

“Only at Hanger are we positioned to collaborate in this capacity,” said Campbell. “Hanger Ventures marks another significant step in our desire to transform O&P while creating value for our partners throughout the care continuum.” 

Hanger provides comprehensive, outcomes-based O&P services through its Patient Care segment, with more than 900 Hanger Clinic locations nationwide. Through its Products & Services segment, Hanger distributes branded and private label O&P devices, products and components, and provides rehabilitative solutions. 

Joerns sells rental biz in certain states to MasVida 

CHARLOTTE, N.C. – Joerns Healthcare has entered into a definitive agreement to sell its rental service network in Florida, Georgia, Louisiana, Oklahoma and Texas to MasVida Health.  

As part of the transaction, MasVida has acquired Joerns products and associated operational assets in the territory, but Joerns has retained and will continue to operate its medical equipment sales and services business. Joerns will also partner with MasVida to support its expansion moving forward. 

"Joerns is pleased and proud to partner with MasVida in this service area," said Doug Ferguson, general manager, Joerns North America. "MasVida shares a very similar passion for resident care and customer engagement like we do at Joerns. We could not have found a better rental service organization to care for our legacy customers and their patients. We look forward to a growing partnership with the MasVida team as we partner in supporting delivered services to the VA and its veterans in the area, as well." 

Joerns announced in November that it planned to exit the long-term care rental business and refocus on medical equipment sales and services. 

MasVida is a provider DME rentals and oxygen tank service in in the southeastern U.S. 

"Our partnership with Joerns Healthcare reflects a common mission that better products and better service produce better outcomes. Joerns is well-known for products that are effective, reliable, and safe," said Joshua Robertson, president and CEO of MasVida Health. "Both companies continue to be committed to ensuring the smoothest transition for customers and uninterrupted resident care." 

HME Home Health revamps website 

RICHMOND, B.C. – HME Home Health has launched a re-designed website with an integrated HME E-Store offering online shopping and order fulfillment. "We are excited to launch our completely over-hauled and redone website and believe it will set the industry standard in Canada for home medical equipment dealers," said Robert Boscacci, CEO and co-founder. "HME's last significant website upgrade was in 2020, so the time was right for innovation and offerings for our valued customers.” The store is fully integrated into HME Home Health’s custom CRM system so that orders can be processed and filled within 24 hours. The company offers a wide range of mobility and accessibility devices and medical equipment, including wheelchairs, power chairs, walkers, hospital beds, mattresses and other durable medical equipment, as well as stairlifts, vertical platform lifts, ramps and other installed products. HME Home Health also has its own line of branded products. 

Rhythm Healthcare names Yoel COO 

CLEARWATER, Fla. – Rhythm Healthcare has named Mitch Yoel as its chief operating officer. Yoel has a long career in the health care industry, including roles at Drive DeVilbiss, and, more recently, at Journey Health and Lifestyle, where he served as CEO. "I am delighted to welcome Mitch Yoel to Rhythm Healthcare as our new chief operating officer,” said Doug Francis, CEO. “Having had the privilege of working alongside Mitch for over a decade at Drive Medical, I have witnessed firsthand his exceptional leadership, strategic acumen and deep commitment to the HME provider community. His appointment marks a significant step in our journey towards becoming a leader in the health care sector, and I look forward to rekindling our successful partnership to achieve new heights for Rhythm Healthcare." In his new role as COO at Rhythm Healthcare, Yoel will spearhead efforts to further enhance the organization’s efficiency and effectiveness, aligning operations with the overarching mission of the company. "I am honored to join the organization and look forward to working with the talented team at Rhythm Healthcare to drive operational excellence and deliver exceptional value to our HME provider partners,” he said. “I am committed to advancing the company's mission to bring comfort, safety, independence and hope to all those connected with the brand." 

Royal Philips proposes new CFO 

AMSTERDAM – Royal Philips has proposed appointing Charlotte Hanneman as a member of the board of management, fulfilling the role of CFO effective Oct. 1, 2024. The proposal will be submitted to the Annual General Meeting of Shareholders (AGM) scheduled for May 7, 2024. Hanneman will join Philips as a member of the company’s executive committee on June 1, 2024, to start her induction and transition into the role, succeeding current CFO Abhijit Bhattacharya. Bhattacharya has been CFO and a member of Philips’ board of management and executive committee since 2015 and will retire from the company after a successful 37-year career on Sept. 30, 2024. “I would like to thank Abhijit for his significant contribution to the transformation of Philips into a health technology company,” said Roy Jakobs, CEO. “His dedication and leadership have made a major impact throughout his long 37-year career in the company. In the future, I will miss him for his character and the insight he brought to the boardroom, however, he will remain our CFO until the end of September, ensuring a smooth transition.” Hanneman will join Philips with more than 20 years of experience in the medtech and pharmaceutical industries, most recently as controller and head of financial planning & analysis at global medical technology company Stryker. In this current role, she will be responsible for financial control, enterprise financial planning and analysis, and business development finance. She will also be responsible for indirect procurement and for the finance teams across Europe, Middle East and Africa, Canada and Latin America. 

Know Labs unveils non-invasive CGM 

SEATTLE – Know Labs, an emerging developer of non-invasive medical diagnostic technology, has unveiled KnowU, a wearable non-invasive continuous glucose monitor (CGM), the result of an accelerated development process over the last eight months. The KnowU incorporates the sensor that the company plans to submit to the U.S. Food and Drug Administration for clearance. “The prevalence of diabetes is growing globally at an alarming rate,” said Ron Erickson, CEO and chairman. “Millions of people face significant barriers in accessing the technology and treatment they need to effectively manage their diabetes. Know Labs is committed to delivering an accessible, affordable, and accurate solution that improves the current standard of care and enhances the quality of life for those living with diabetes.” KnowU can be worn with an adhesive, allowing the user to clip the sensor on and off, or on the wrist or forearm with a strap. The device includes on-board computing power and built-in machine learning capabilities.  

CTF releases position statement 

YARMOUTH, Maine – The Clinician Task Force (CTF) has released a “Scope of Practice for Seating and Wheeled Mobility Clinical Services” to define occupational and physical therapy roles and responsibilities in seating and wheeled mobility services. The position statement, completed in December 2023, also provides guidance for educators, rehabilitation professionals, medical providers, funding sources, policymakers and seating and wheeled mobility manufacturers. “We saw a need arise for a concise, succinct document that explained the core responsibilities and considerations for clinicians that will guide them toward an appropriate wheelchair recommendation, whether they do this frequently or infrequently in their practice,” said Cara Masselink, PhD, OTRL, ATP, executive director of the CTF. “Based on evidence and expertise, this Scope of Practice covers the core knowledge and tasks that will lead clinicians to enabling the best, most impactful outcomes for the people we work with.” The CTF is a non-profit organization that addresses the needs of individuals who may require seating and mobility equipment during their lifetime. 

NCPA offers credit card 

ALEXANDRIA, Va. – The National Community Pharmacists Association is launching the new NCPA Business Mastercard, an exclusive NCPA member benefit tailored specifically for pharmacy industry spending needs. “From cutting-edge expense management technology to unrivaled savings on pharmacy supplies, every aspect of the NCPA Business Mastercard is crafted to elevate the success of our members’ businesses, regardless of their size,” said NCPA CEO B. Douglas Hoey. “This isn’t just a card; it’s a testament to our unwavering commitment to supporting those on the front lines of health care.” Highlights of the NCPA Business Mastercard include unlimited 2.25% cash back and 5% cash back on pharmacy supplies. The card was launched and is managed by Affiniti Finance.