AUSTIN, Texas, June 8, 2012 /PRNewswire/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) today announced it has changed its name to Hanger, Inc., effective immediately. The company's NYSE stock symbol, HGR, remains unchanged. The company's stockholders approved the name change at the company's Annual Meeting of Stockholders on May 10, 2012.
"Hanger has grown and evolved over the years from solely an orthotic and prosthetic patient care company to one of the leading clinical authorities in the provision of integrated rehabilitative solutions with a full range of services and products," said Hanger President and Chief Executive Officer Vinit K. Asar. "When you consider our continuing disciplined diversification strategy, our former company name was limiting. Having just celebrated our 150th anniversary, the timing is right to position the company for the future, while continuing to emphasize the innovative legacy of our namesake, Mr. James Edward Hanger, the first amputee of the American Civil War."
The name change is one aspect of a larger branding initiative that has been in development for more than two years for Hanger and its patient care business. In 2010, Hanger commenced a strategic branding effort that included partnering with external experts to conduct extensive research with nearly 1,000 internal and external stakeholders. The methodology consisted of market and internal analyses, focus groups, surveys, and one-on-one interviews with patients and customers, referral sources, industry thought leaders, investors, payers, and competitors. In addition, this initiative has also led to the rebranding of Hanger's core patient care business from Hanger Prosthetics & Orthotics to Hanger Clinic.
Unveiled on February 1, 2012 at its Annual Hanger Education Fair and National Meeting in Las Vegas, Nevada, the new brand
|SOURCE Hanger Orthopedic Group, Inc.|
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