AUSTIN, Texas, Aug. 1, 2011 /PRNewswire/ -- The premier provider of services and products that enhance human physical capability, Hanger Orthopedic Group, Inc. (NYSE: HGR) is celebrating a milestone achieved by few American companies – 150 years in business. And it reaches this landmark positioned for continuing success after five consecutive years of meeting or exceeding street estimates and praised by analysts for its strong operating prowess and ability to drive margins.
"The longevity, strength, and endurance demonstrated over the past 150 years are indicative of Hanger's keen adaptability and aptitude for strategic growth in a rapidly changing healthcare environment," said Hanger Orthopedic Group President and CEO Thomas F. Kirk, PhD. "Combined with the dedication, clinical excellence, and entrepreneurial spirit of our employees, Hanger is well suited as the partner of choice for our patients and the healthcare community for the next 150 years."
Founded in 1861 by James Edward Hanger, the first amputee of the Civil War, Hanger Orthopedic Group is steeped in a long history of clinical innovation and customer service. Unsatisfied with the prosthetic options available at the time, Mr. Hanger invented the first articulating prosthetic knee, whittled from wooden barrel staves, just five short months after surviving his battlefield amputation. In the same year, Mr. Hanger secured two patents from the Confederate government and was commissioned to develop prosthetic limbs for veteran soldiers. In 1891, Mr. Hanger was granted a U.S. patent for his invention. By the time of his death in 1919, the J.E Hanger Company had branches in Atlanta, Philadelphia, Pittsburgh, St. Louis, London, and Paris.
"The ingenuity and business savvy demonstrated by Mr. Hanger revolutionized the prosthetic industry and paved the way for ground-breaking innovations including the incorporation of microprocessors, carbon fiber, accelerometers, and robotics," said Kirk. "Today, as a company that has expanded far beyond prosthetic patient care into distribution, network management, and therapeutic solutions, we recognize all those who contributed to our past successes and reaffirm the same core values that serve as the foundation of our legacy."
On Wednesday August 10, 2011, coinciding with the month Mr. Hanger began work on his revolutionary prosthetic solution in 1861, Hanger Orthopedic Group will commence six months of anniversary celebrations as Hanger leadership, practitioners, and patients ring The Closing Bell® at the New York Stock Exchange. On the same day, Hanger will also launch www.Hanger150.com, a microsite dedicated to its history and featuring a photo campaign by its employees.
Anniversary celebrations will culminate at the Company's Annual Education Fair January 30 – February 3, 2012 in Las Vegas, NV. Available only to Hanger employees, the Annual Education Fair is the foremost educational event in the O&P industry, bringing more than 1,200 clinicians, business staff, and device manufacturers together for a week of learning and team building.
About Hanger – Hanger Orthopedic Group, Inc., headquartered in Austin, Texas, is the world's premier provider for services and products that enhance human physical capability. Hanger provides orthotic and prosthetic patient care services, distributes O&P devices and components and provides therapeutic solutions to the broader post acute market. Hanger is the largest owner and operator of orthotic and prosthetic patient care centers with in excess of 675 O&P patient care centers located in 45 states and the District of Columbia. Hanger, through its subsidiary Southern Prosthetic Supply, Inc, is also the largest distributor of branded and private label O&P devices and components in the United States. Hanger provides therapeutic solutions through its subsidiaries Innovative Neurotronics and Accelerated Care Plus. Innovative Neurotronics introduces emerging neuromuscular technologies developed through independent research in a collaborative effort with industry suppliers worldwide. Accelerated Care Plus is a developer of specialized rehabilitation technologies and the nation's leading provider of evidence-based clinical programs for post-acute rehabilitation serving more than 4,000 long-term care facilities and other sub-acute rehabilitation providers throughout the U.S. For more information on Hanger, visit www.hanger.com.
|SOURCE Hanger Orthopedic Group, Inc.|
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