Tag: Hanger
Hanger launches investment platform
February 29, 2024HME News Staff
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...
In brief: Hanger acquired, 3M’s health care division spun off, Quipt contract secured
July 29, 2022HME News Staff
AUSTIN, Texas – Hanger, a national provider of O&P, has entered into an agreement to be acquired by Patient Square Capital, a dedicated health care investment firm, for approximately $1.25 billion.
Under the terms of the agreement, Hanger stockholders will receive $18.75 in cash per share, representing an approximate 29% premium to the 30-calendar day volume-weighted average price (VWAP) ending July 20, 2022. Upon completion of the transaction, Hanger will become a privately held company...
O&P giant Hanger to be acquired
July 28, 2022HME News Staff
AUSTIN, Texas – Hanger, a national provider of O&P, announced today that it has entered into an agreement to be acquired by Patient Square Capital, a dedicated health care investment firm, for approximately $1.25 billion.
Under the terms of the agreement, Hanger stockholders will receive $18.75 in cash per share, representing an approximate 29% premium to the 30-calendar day volume-weighted average price (VWAP) ending July 20, 2022. Upon completion of the transaction, Hanger will become...
In brief: Screening calls, C-suite changes, scholarship
January 29, 2021HME News Staff
WASHINGTON – CMS is having a subcontractor of the National Supplier Clearinghouse call supplier locations to make sure they’re open and available for inspection, according to AAHomecare.
Early in the COVID-19 public health emergency, CMS waived the requirement that suppliers be open at a physical location a minimum of 30 hours per week (supplier standard No. 7). The waiver was lifted in July and CMS announced it would move forward with physical inspections. The agency assured...
Hanger Foundation creates scholarships to increase diversity
January 28, 2021HME News Staff
AUSTIN, Texas – The Hanger Foundation has created the Hanger Foundation Diversity Scholarship to attract more diverse candidates to O&P graduate programs. Hanger Inc., which launched the foundation in 2009, says it is committed to addressing racism and creating a more inclusive profession. “Research has shown that clinicians of color are underrepresented within the O&P industry,” said Gloria Gonzales Dholakia, PhD, executive director of the Hanger Foundation....
Hanger buys two O&P companies
December 6, 2012HME News Staff
AUSTIN, Texas - Hanger, Inc., a provider and distributor of orthotics and prosthetics products, recently acquired Faith Prosthetic-Orthotic Services and SCOPe Orthotics & Prosthetics, according to a press release. The two patient care companies have 22 clinics in California and North Carolina, respectively, and generate combined annual revenue of $24.6 million. That brings Hanger's total revenue from acquisitions in 2012 to $60.2 million.
In brief: More sign on for MPP, Hanger has banner year
November 2, 2012HME News Staff
WASHINGTON - Despite the all-encompassing elections, H.R. 6490, a bill that would replace competitive bidding with an industry-backed market-pricing program (MPP), picked up eight new co-sponsors last week, bringing the total to 27. The newest co-sponsors: Reps. Steve Stivers, R-Ohio; Rob Wittman, R-Va.; Mike Coffman, R-Colo.; William Keating, D-Mass.; Tim Ryan, D-Ohio; Peter King, R-N.Y.; Lynn Westmoreland, R-Ga.; and Terri Sewell, D-Ala. To keep tabs on the official tally of co-sponsors for...
Hanger logs 'best year' for acquisitions
October 30, 2012HME News Staff
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...