Tag: O&P

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...

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...

YOUNGSTOWN, Ohio – Cailor Fleming Insurance and VGM Specialty Underwriters have formed an exclusive partnership to meet the needs of members of the American Orthotic and Prosthetic Association, and the O&P and pedorthic professions. “Creating this partnership allows us to serve O&P providers in an even greater capacity,” said Don Foley, owner/operator, Cailor Fleming Insurance. “We’ve developed tailored products and coverage options for the unique needs of...

WASHINGTON – Rep. Mike Thompson, D-Calif., has reintroduced the Medicare O&P Patient-Centered Care Act to improve access to care and combat fraud and abuse.  The legislation would create separate statutory requirements for the provision of orthoses and prostheses, distinguishing O&P practitioners from other DME suppliers. It would also restore the term “minimal self-adjustment” to more clearly define off-the-shelf orthoses; and prohibit...

KANSAS CITY – Knit-Rite and Therafirm have been acquired by Thuasne, a European medical device manufacturer with 2,200 employees and 233 million euros in revenues in 2019. Knit-Rite and Therafirm, which represent Thuasne’s fourth largest acquisition in the United States in 10 years, solidify the company’s presence in the O&P and compression markets, and open up a new market, devices for orthopedic prothesis (post-amputation prosthetic socks and prosthetic...

YARMOUTH, Maine – The majority of competitive bidding contracts for off-the-shelf back braces in Round 2021 went to less than two-dozen companies, including a few that haven't traditionally provided them direct to consumer.  Companies with contracts include Hangar, a national provider of O&P; Medline, a distributor; and Breg, a manufacturer, which all won contracts nationally. Other contracts went to regional providers,...

WASHINGTON - O&P stakeholders are eyeing a pair of possible legislative vehicles as they seek to pass a bill that would improve patient care and reduce fraud. The American Orthotic and Prosthetic Association has been working with lawmakers to fit their bill into either drug pricing legislation or the Cures 2.0 initiative, says Justin Beland, director of government relations.“We're confident that one of those two vehicles will give our bill a ride,” he said.H.R. 5262, the Medicare Orthotics...

MIAMI - HomeCare Connect has been chosen by Broadspire as its preferred partner for prosthetics and custom orthotics. The partnership will provide specialized care management services for injured workers who have undergone amputations. “We appreciate the specialized care and cost containment this partnership brings to our clients and the injured workers we advocate for,” said Erica Fichter, senior vice president of medical management for Broadspire, an independent provider of claims management...

OWINGS MILLS, Md. - The Board of Certification/Accreditation (BOC) is accepting nominations for the Jim Newberry Award for Extraordinary Service. The award is named after longtime practitioner, BOC board member and leader James Newberry, Jr., BOCP, BOCO, BOCPD, who passed away in 2016. It recognizes “outstanding individuals who perform extraordinary service to BOC, and who live out the superior example modeled by Newberry during his more than four decades in O&P.” Winners may include,...

OWINGS MILLS, Md. - The Board of Certification/Accreditation (BOC) is accepting nominations for the Jim Newberry Award for Extraordinary Service. The award, named for longtime BOC member and practitioner Jim Newberry, recognizes outstanding individuals who perform extraordinary service to BOC and its community of stakeholders. “We look forward to seeing this year's nominations as we continue to honor Jim's amazing legacy,” said Wayne Rosen, BOCP, BOCO, FAAOP, chairman of BOC's board of...