Navigation Links
Hanger Orthopedic Group, Inc. Announces Early Tender Results of Offer to Purchase Outstanding 10-1/4% Senior Notes Due 2014
Date:11/2/2010

AUSTIN, Texas, Nov. 2, 2010 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) announced that, as of 5:00 p.m., New York City time, on Monday, November 1, 2010 (the "Early Tender Date"), $172,443,000 aggregate principal amount of its 10-1/4% Senior Notes due 2014 (the "Notes") have been validly tendered and not validly withdrawn in connection with its previously announced cash tender offer (the "Offer") for any and all of its outstanding Notes, of which a principal amount of $175,000,000 was outstanding.

Holders who validly tendered their Notes by the Early Tender Date received $1,056.25, paid in cash today (the "Early Settlement Date"), for each $1,000 principal amount of Notes accepted for payment, which amount included an early tender payment of $30.00 per $1,000 of Notes accepted for payment.  In addition to the consideration described above, accrued and unpaid interest up to, but not including, the Early Settlement Date was paid in cash on all validly tendered and accepted Notes.

The Offer is scheduled to expire at 8:00 a.m., New York City time, on November 17, 2010, unless extended (the "Expiration Date"). Holders who validly tender their Notes after the Early Tender Date and prior to the Expiration Date (as defined below) will receive $1,026.25, payable in cash, for each $1,000 principal amount of Notes accepted for payment.

The complete terms and conditions of the Offer are set forth in the Offer to Purchase, along with any amendments and supplements thereto, which holders of the Notes are urged to read carefully before making any decision with respect to the Offer.  Copies of the Offer to Purchase may be obtained from D.F. King & Co., Inc., the depositary and information agent for the Offer (the "Agent"), at (212) 269-5550 (banks and brokers – call collect) or (888) 605-1957 (all others – toll free).  Questions regarding the Offer also may be directed to the dealer managers for the tender offer, BofA Merrill Lynch at (888) 292-0070 (toll free) or (980) 388-9217 (collect) or Jefferies & Company, Inc. at (888) 708-5831 (toll free) or (203) 708-5831 (collect).

This press release is not an offer to purchase or a solicitation for consent in any state or jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities law of any such state or other jurisdiction. The Offer is only made pursuant to the terms of the Offer to Purchase dated October 19, 2010.

About Hanger Orthopedic Group, Inc.

Hanger Orthopedic Group, Inc., headquartered in Austin, Texas, 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 in excess of 675 patient care centers in 45 states and the District of Columbia, with more than 3,800 employees, including over 1,100 practitioners, as of September 30, 2010.  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 industry. The fourth unit, Innovative Neurotronics, introduces emerging neuromuscular technologies developed through independent research in a collaborative effort with industry suppliers worldwide. For more information on Innovative Neurotronics, Inc. or the WalkAide®, visit http://www.ininc.us. For more information on Hanger, visit http://www.hanger.com.

Forward-Looking Statements

This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  All statements other than statements of historical fact, including, without limitation, statements regarding the Company's future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements.  When used in this press release, words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "project" or "plan" or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements.  These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company's control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.  These factors include risks related to the Company's ability to enter into and derive benefits from managed care contracts, the demand for the Company's orthotic and prosthetic services and products and the other factors identified in the Company's periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934.  The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE Hanger Orthopedic Group, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Hanger Orthopedic Group, Inc. Announces Three Acquisitions Totaling $10.7 Million of Annual Net Revenue
2. Hanger Orthopedic Group Increases Q4 2009 Sales and EPS Guidance
3. Hanger Orthopedic Group, Inc. Announces 2009 Year-End Earnings Release Conference Call
4. Hanger Orthopedic Group, Inc. Reports an Increase of 42.3% in Earnings Per Share, to $0.37 on a 10.6% Sales Increase, for the Fourth Quarter 2009
5. Hanger Orthopedic Group, Inc. Announces Three Acquisitions With Annual Revenues of $14.0 Million
6. Hanger Orthopedic Group Honored for its Charitable Relief Efforts in Haiti by InterAction
7. Hanger Ivan R. Sabel Foundation to Receive $75,000 Donation Towards Charitable Prosthetic Efforts in Haiti from Grapes for Humanity/US
8. Hanger Orthopedic Group, Inc. Announces Second Quarter 2010 Earnings Release Conference Call
9. Hanger Orthopedic Group, Inc. Announces Third Quarter 2010 Earnings Release Conference Call
10. FDAs Just Approved Monthly Drug Treatment, Vivitrol Could Be Game Changer, Says Countrys Largest Drug Treatment Recovery President, CRCs Jerry Rhodes; Provides Addicts One Decision A Month Instead of 30
11. Hanger Orthopedic Group Announces Preliminary Third Quarter Revenue and Earnings
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... January 19, 2017 The global  pacemaker market  is expected ... Grand View Research, Inc. The heightening prevalence of cardiac conditions coupled with the ... Pacemaker globally. In addition, technological enhancements in these devices are supporting the expansion ... ... Grand View Research Logo ...
(Date:1/19/2017)... , Jan. 18, 2017   Synthetic Biologics, ... company developing therapeutics designed to preserve the microbiome ... today confirmed plans to initiate a Phase 2b/3 ... reformulation of lovastatin lactone designed to reduce methane ... in the gut to treat the underlying cause ...
(Date:1/18/2017)... -- Aprima Medical Software, a leading provider of innovative ... revenue cycle management (RCM) solutions for medical practices, ... Healthcare Data Solutions (HDS) of Coral Cables, FL. ... full support for HDS,s customers, which include approximately ... states. Financial terms were not disclosed. ...
Breaking Medicine Technology:
(Date:1/19/2017)... IL (PRWEB) , ... January 19, 2017 , ... ... N.A., announced it recently provided a new $11,250,000 senior credit facility to Sunrise, ... new MB credit facility were used to facilitate a recapitalization of MedPro led ...
(Date:1/19/2017)... Huntington Beach, CA (PRWEB) , ... January 19, ... ... for Oral Health, is now offering treatments for patients with sleep apnea and ... far-reaching consequences for dental and physical health. Dr. Rassouli provides personalized care to ...
(Date:1/19/2017)... , ... January 19, 2017 , ... Sam & Associates ... to commercial and residential clients in the California Bay Area, is launching a charity ... in the region. , Heart disease is the primary killer of adult men and ...
(Date:1/19/2017)... ... ... St. Catherine’s Village announced that a limited number of rooms have become available ... grounds of the St. Catherine’s Village campus in Madison, Mississippi that accommodates 120 residents ... Mississippi for the second year in a row by readers of the Clarion-Ledger. , ...
(Date:1/19/2017)... ... January 18, 2017 , ... The CHP suggests that California ... rain storm by slowing down and increasing the space between themselves and other vehicles, ... based car accident attorney Raymond R. Hassanlou notes that, rain or shine, drivers should ...
Breaking Medicine News(10 mins):