Hanger Orthopedic Group, Austin, Texas, announced that its board of directors has elected Patricia B. Shrader, vice president of global regulatory affairs at Medtronic, Minneapolis, Minnesota, to join the board as a director, effective December 19. Shrader qualifies as an independent director under applicable New York Stock Exchange listing standards. She is filling the vacancy created by the resignation of Board Member Bennett Rosenthal earlier that day.
“We are very excited to welcome Patricia Shrader to Hanger’s Board,” said Thomas F. Kirk, CEO of Hanger Orthopedic Group, Austin, Texas. “Patricia’s nearly 25-year career in regulatory and external affairs in the medical device and diagnostics industry will prove useful in the future as we continue to grow in ever-changing regulatory and public policy environments.”
Rosenthal, a senior partner and co-head of Private Equity Group at Ares Management, a private investment management firm, joined Hanger’s board of directors in 2006 in connection with Ares’ $50 million equity investment in the company. Ares has since liquidated most of its equity investment in the company.
“I have thoroughly enjoyed serving on Hanger’s board of directors and working closely with its excellent management team.” Rosenthal said. “Now I feel that this is a good time for me to focus on other Ares-related investments.”
