Hanger Orthopedic Group, Bethesda, Maryland, announced three acquisitions totaling $10.7 million in annual net revenue. Hanger has acquired Creative Orthotics & Prosthetics, based in Binghamton, New York; Custom Orthopedics, Casper, Wyoming; and certain orthotics and prosthetics assets from the Hospital of the University of Pennsylvania, Philadelphia.
These acquisitions add patient care centers to existing markets in New York, Wyoming and Pennsylvania.
“We are extremely pleased to welcome the talented professionals to the Hanger team,” said Hanger President and CEO, Thomas F. Kirk. “They bring outstanding patient care centers in their respective markets and will add value to our core O&P business. As with our previous transactions, they were financed with internally generated cash flows and will be accretive to earnings after completion of the initial integration period.”
