Industry News


Hanger Inc Acquires 16 Patient Care Companies Across 15 States

In a recent news release, Austin, Texas-based Hanger Inc announced its acquisition of 16 patient care companies comprised of clinics in 15 states. The release notes that the acquisitions have translated into annualized revenue of $35.6 million in 2012 year to date.

“We have exceeded our goal to acquire sales of approximately $20 million in 2012. … Our pipeline transactions remains healthy, and it is still possible for one or more additional acquisitions to close before year end,” Vinit K. Asar, Hanger Inc president, CEO, says.

Hanger Inc reports that these acquisitions include OrthoPro 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, and Northeast Alabama Prosthetics & Orthotics LLC, AKBK Inc, doing business as Crockett Prosthetics and Orthotics.

Rounding out the additional acquired patient care companies is Missoula Orthotics & Prosthetics Laboratories Inc, Karsten Prosthetic Laboratories Inc, Alpine Prosthetics & Orthotics LLC, Parr Prosthetics & Orthotics LLC, and Nordlie Enterprises Inc, doing business as Premier Medical.

“We are please to welcome these great companies and their over 150 dedicated clinicians and staff to the Hanger team,” Asar says.

Source: Hanger