Hanger Inc (HNGR)

Overview

Hanger, Inc. is a long-standing American company specializing in orthotic and prosthetic (O&P) services across the United States. The company is organized into two principal divisions: Patient Care and Products & Services. Its Patient Care division features the extensive Hanger Clinic network, which is both owned and managed by the company. These clinics are recognized for their excellence in custom design, fabrication, and delivery of O&P devices to patients via a wide-reaching network of clinics and satellite locations. Additionally, this segment provides crucial payor network contracting services to other O&P providers, enhancing the overall efficiency and accessibility of O&P services.

Meanwhile, the Products & Services division offers a diverse range of solutions, focusing primarily on the distribution of O&P components, parts, and complete devices to independent O&P practitioners. This division also emphasizes research and development in advanced rehabilitation technologies, delivering evidence-based clinical programs for post-acute rehabilitation across nearly 4,000 skilled nursing and post-acute care facilities. Moreover, it manufactures and sells specialized therapeutic footwear tailored for diabetic patients within the podiatric market. As of December 31, 2021, Hanger established a significant presence with roughly 760 patient care clinics and 115 satellite locations across 47 states and the District of Columbia. In addition to direct patient care, the company engages in the distribution of O&P devices and components, effectively managing O&P networks and providing comprehensive therapeutic solutions to patients and healthcare businesses alike, operating within acute, post-acute, and clinic environments. Originally founded in Austin, Texas, in 1861, the firm operated under the name Hanger Orthopedic Group, Inc. until adopting its current name, Hanger, Inc., in June 2012.

Products and Services

• Patient Care Clinics:

  The Hanger Clinic network specializes in the custom design, fabrication, and delivery of orthotic and prosthetic devices. These clinics are dedicated to enhancing patient mobility and quality of life through personalized care plans tailored to individual needs.

• Payor Network Contracting Services:

  Hanger, Inc. offers vital payor network contracting services to other O&P providers, aiming to streamline operations and improve reimbursement processes for the delivery of O&P services.

• O&P Components and Devices Distribution:

  This division is committed to supplying independent O&P practitioners with a wide variety of O&P components, parts, and complete devices, facilitating better patient outcomes through access to quality materials.

• Research and Development:

  Hanger invests in the research and development of advanced rehabilitation technologies, leading to innovative solutions that improve recovery processes and aid rehabilitation specialists in their practices.

• Clinical Programs for Post-Acute Rehabilitation:

  The company delivers evidence-based clinical programs specifically designed for post-acute rehabilitation, benefitting patients in nearly 4,000 skilled nursing and other post-acute care facilities.

• Specialized Therapeutic Footwear:

  Within the podiatric market, Hanger manufactures and sells specialized therapeutic footwear aimed at diabetic patients, thereby addressing complications and promoting foot health among vulnerable populations.