Officials from Hanger Orthopedic Group Inc. announced that the company has acquired Stagner Orthopedic Services, Specialized Prosthetic & Orthotic Technologies Inc., and MHC Prosthetics LLC. These acquisitions provide Hanger with additional patient care centers in Tennessee, Utah and Maryland, respectively.
“We are pleased to welcome the professionals from these acquisitions to our team. The acquisition of these practices strengthens our market positions in Nashville, Tenn., and the Baltimore and Washington, D.C. area and provides us with access to a new market in Salt Lake City, Utah. Moreover, these acquisitions were financed with internally generated cash flows and are immediately accretive to earnings. These transactions continue to validate our focused, market-based, acquisition growth strategy for our patient care centers,” Ivan R. Sabel, chairman and chief executive officer of Hanger, said in a company press release.