Hanger Acquires Five Facilities

Hanger Orthopedic Group Inc., Bethesda, Maryland, announced the acquisition of Colorado Professional Medical Inc., Beverly Hills Prosthetics-Orthotics Inc., Orthotic-Prosthetic Center Inc., Precision Orthotics of Tuscon Inc., and Compton-Jones Orthotics LLC. According to Hanger, these acquisitions will enhance its presence in Colorado, California, Florida, Arizona, and West Virginia, respectively. The acquisitions add a net total of nine additional patient care facilities and annual net revenues of $6.5 million, the company added.

"These acquisitions continue our strategy of incrementally increasing our market share in local markets or providing us entry into interesting new markets," Ivan R. Sabel, Hanger Chairman and CEO, stated. "As with our previous acquisitions, these transactions were financed with internally generated cash flows and will be accretive to earnings after the completion of the initial integration period. We are very pleased to welcome the professionals from these acquisitions to our team."