Urgent: Hanger Update
John Russell
Description
Collection
Title:
Urgent: Hanger Update
Creator:
John Russell
Date:
11/3/2000
Text:
Hi All
Hanger is now down to 3.25 per share
BETHESDA, Md. -(Dow Jones)- Hanger Orthopedic Group Inc. (HGR) signed a
letter of intent to sell most of the assets of its Seattle Orthopedic Group
Inc. unit to Otto Bock Orthopedic Industry Inc. for about $75 million.
In a press release Thursday, Hanger said it received regulatory approval for
the transaction, which it expects to complete by Dec. 1, subject to a
definitive agreement.
The unit accounted for about 3% of Hanger's total revenue. Hanger plans to
use the proceeds to repay debt. The sale is part of the company's plan to
focus on its core patient-care business.
That's all for Now, John Russell
<Email Address Redacted>
<Email Address Redacted>
Hanger is now down to 3.25 per share
BETHESDA, Md. -(Dow Jones)- Hanger Orthopedic Group Inc. (HGR) signed a
letter of intent to sell most of the assets of its Seattle Orthopedic Group
Inc. unit to Otto Bock Orthopedic Industry Inc. for about $75 million.
In a press release Thursday, Hanger said it received regulatory approval for
the transaction, which it expects to complete by Dec. 1, subject to a
definitive agreement.
The unit accounted for about 3% of Hanger's total revenue. Hanger plans to
use the proceeds to repay debt. The sale is part of the company's plan to
focus on its core patient-care business.
That's all for Now, John Russell
<Email Address Redacted>
<Email Address Redacted>
Citation
John Russell, “Urgent: Hanger Update,” Digital Resource Foundation for Orthotics and Prosthetics, accessed November 27, 2024, https://library.drfop.org/items/show/215378.
