Hanger Orthopedic Group, Inc. Announces Six Acquisitions Totaling $8.9 Million of Annual N...( BETHESDA Md. Jan. 8 /- Hanger Orthop...),Health

BETHESDA, Md., Jan. 8 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) is pleased to announce that throughout the fourth quarter of 2008 it acquired Maine Artificial Limb Co., Orthotics Center, Rocky Mountain Orthotic-Prosthetics Center, Riessen's Orthopedic and Prosthetic Services, Inc., First Coast Orthotics & Prosthetics, and Orthopedic Rehabilitation Products, Inc. These acquisitions add patient care centers to existing markets in Maine, Louisiana, Colorado, Washington, and Florida, as well as stock and bill rehabilitation services to our Colorado market.

President and CEO, Thomas F. Kirk stated, "We are very pleased to have the professionals of these acquisitions join our team. These acquisitions will provide value in our core O&P business, as well as building a presence in other related business areas. As with our previous acquisitions, we financed our purchase with internally generated cash flows and expect them to be accretive to earnings after the completion of the initial integration period."

Hanger Orthopedic Group, Inc., headquartered in Bethesda, Maryland, is the world's premier provider of orthotic and prosthetic patient care services. Hanger is the market leader in the United States, owning and operating 677 patient care centers in 45 states and the District of Columbia, with over 3,500 employees including 1,080 practitioners (as of September 30, 2008). Hanger is organized into four units. The two key operating units are patient care, which consists of nationwide orthotic and prosthetic practice centers, and distribution which consists of distribution centers managing the supply chain of orthotic and prosthetic componentry to Hanger and third party patient care centers. The third is Linkia, which is the first and only provider network management company for the orthotics and prosthetics
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