Hanger announced a strategic combination of Hanger and Numotion, a provider of complex rehabilitation technology (CRT) and mobility products and services in the United States and Canada. Numotion is owned by AEA Investors, a portfolio company. The combined company, called Hanger Numotion, will create a scaled North American platform with complementary capabilities across O&P, CRT, and mobility and independence solutions.
The transaction will be structured as an acquisition of Numotion for cash by Hanger. The combined company will be controlled by Patient Square Capital.
Following completion of the transaction, Hanger and Numotion will continue to serve customers under their existing brands and maintain their respective clinical operations. Together, the organizations will serve more than 1.5 million patients annually through Hanger’s 925 US-based O&P clinics and Numotion’s 200-plus locations across North America. The combination will also provide greater scale and resources to expand access to care, invest in clinicians, and further product innovation.
Following close of the transaction, expected in the fourth quarter, Numotion CEO Mike Swinford will become CEO of the combined company. Swinford has led Numotion since 2014, helping scale the business through sustained growth, expansion, and diversification. Prior to joining Numotion, he spent more than two decades at GE, including as president and CEO of GE Healthcare Services.
“Our two companies share a fundamental belief in the role mobility can play in improving people’s lives. By bringing together our respective experience, capabilities, and passion to serve our customers and patients, we have an opportunity to build on each company’s strengths and help more people across their mobility journeys,” said Swinford.
“I am incredibly proud of what our team has accomplished at Hanger and the transformation the business has undergone since I joined the company in 2020. Together, we have built a stronger, more integrated national platform, invested meaningfully in our people, technology, and capabilities, and positioned Hanger for sustained growth,” said Hanger CEO Pete Stoy.
