Tag: Orthotics

DALLAS – Generational Equity has announced that its client Green Prosthetics and Orthotics has sold to Mobility Ideal Health Care. "This was a deal where all the stars aligned perfectly,” Faraaz Ali, senior M&A advisor for Generational Equity. “Our client was a niche custom fabricator of prosthetic and orthotic devices that checked all of the investment criteria boxes of a strategic acquisition party that was consolidating in this space. Outside of the mutually beneficial structure...

TAMPA and RALEIGH, N.C. – Ruth Bianca Fernandez has been sentenced to three years in prison for her role in a conspiracy to commit health care fraud and for making a false statement in a matter involving a federal health care benefit program. Government officials say Fernandez, who worked directly under Patsy Truglia, who has already been sentenced, and other conspirators generated medically unnecessary physician orders via their telemarketing operation for certain orthotic devices—knee...

Facing regulatory challenges and guided by optimistic market forecasts, orthotics and prosthetics providers are forging ahead to overcome obstacles and strengthen the category.  Between prior authorization requirements from CMS’ Final Rule CMS-1713 and moving beyond Operation Brace Yourself, O&P providers face higher standards while focusing on rebuilding trust with clients. Adam Miller, president of Waterloo, Iowa-based VGM’s Orthotic and Prosthetic Group of America, says other...

TEANECK, N.J. – Aetrex, a global leader in foot scanning technology, orthotics and comfort and wellness footwear, launched the Foot.com Data Portal, a dedicated platform to help shoe manufacturers around the world create better fitting footwear. Users can view and extract global 3D foot data broken down by gender, foot size, country and more. The launch of the portal marks a major step forward in the advancement of footwear development technology by taking the guesswork out of the equation....

OWINGS MILLS, Md. –The Board of Certification/Accreditation’s board of directors has named Judi L. Knott, MA, MBA, as the organization’s new president and CEO, effective Jan. 1, 2023.  Knott currently serves as BOC’s chief strategy and marketing officer. Current president and CEO Claudia Zacharias, MBA, CAE will retire at the end of this year.  “I am fortunate to inherit an organization with a solid balance sheet, excellent, long-tenured staff and a bright...

WATERLOO, Iowa – The Orthotic and Prosthetic Group of America has announced the finalists for the 2022 O&P Woman of the Year Award.  The finalists are:  Adrienne Hill, CPO, area clinic manager, Hanger Clinic  Maggie Baumer, area business clinic manager, Hanger Clinic   Manisha Bhasker, senior director of communications & development, American Academy of Orthotists & Prosthetists   Nina Bondre, education specialist with Ottobock Healthcare  “We’re...

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...

WATERLOO, Iowa – The Orthotic and Prosthetic Group of America (OPGA) has opened the nomination period for the 2022 O&P Woman of the Year Award. The annual award, organized by the OPGA, is open to all women who work in the profession. Nominators are encouraged to provide examples of how the nominee has made significant contributions throughout her career to serve patients, community, business and the O&P profession. Ashlie White, director of health policy and strategic alliances for the...

DALLAS – A federal jury here has convicted the owners and operators of four orthic brace suppliers in Texas and Arkansas for a $6.5 million illegal kickback scheme, including violations of the Anti-Kickback Statute. Bruce Stroud, 40, and Bobbi Stroud, 39, husband and wife and residents of Prosper, Texas, and Kenric Griffin, 52, of Frisco, Texas, jointly owned and operated New Horizons Durable Medical Equipment, Striffin Medical Supply, 4B Ortho Supply and Grace Professional DME, according to...