Hanger Orthopedic Group Inc. announced the acquisition
of Team Post-Op Inc., BioConcepts Inc., US Orthotics & Prosthetics Inc., MK
Prosthetic & Orthotic Services Inc., and Rainier Surgical Incorporated
& Ortho-Medical Products Inc. The acquisitions will add annual revenues of
approximately $20.2 million to Hanger’s patient care operations, according
to a company press release.
“We are extremely pleased to welcome these talented
professionals to the Hanger team,” Thomas F. Kirk, president and chief
executive officer of Hanger Orthopedic Group, stated in a company release.
“They bring an outstanding reputation for superior patient care and will
add value to our core O&P business. These acquisitions were financed with
internally generated cash flows and will be accretive to earnings after
completion of the initial integration period. We continued to evaluate
additional opportunities to acquire patient care centers that meet our
criteria.”
