Hanger Stock 2002
Two years ago, this Corner concluded with a short article about Hanger's efforts to assimilate NovaCare, comparing their situation at that time to that of Daimler-Benz, who had acquired Chrysler at about the same time HOG acquired NC. In December 2002, HOG stock was under $2 and Daimler-Chrysler had dropped to $45.
Although the reported sale of Seattle Orthopedic Group Inc. to Otto Bock fell through, Hanger ultimately sold SOGI to USMC. This infusion of cash helped substantially reduce their debt load, and the stock prices today reflect much more confidence in the company's future.
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