BETHESDA, Md., June 10 /PRNewswire-FirstCall/ -- On Friday, June 4, 2004, the Securities and Exchange Commission declared effective the shelf registration statement of Hanger Orthopedic Group, Inc. that had been filed on March 30, 2004, relating to approximately 9.6 million shares of common stock. Of such shares, approximately 6.5 million are reserved for one or more possible public offerings in the future by the Company. No such offering currently is contemplated. The Company plans to file in the near future a prospectus supplement relating to the possible sale of the balance of approximately 3.1 million shares of common stock into which the Company’s currently outstanding shares of 7% Redeemable Convertible Preferred Stock are convertible by the holders thereof. Such shares of common stock were included in the shelf filing in response to the exercise of registration rights held by the holders of the preferred stock. The Company has not received any notice from such holders that they plan to convert their preferred stock or sell the shares of common stock into which the preferred stock is convertible.
Hanger Orthopedic Group, Inc., headquartered in Bethesda, Maryland, is engaged in the business of providing orthotic and prosthetic patient-care services. Hanger is organized into two business segments; 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. In addition, Hanger operates an orthotic and prosthetic managed care network.
Certain statements included in this press release are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please refer to the Company’s SEC filings for factors that could cause actual results to differ materially from the Company’s expectations.
Hanger Orthopedic Group, Inc.
CONTACT: Ivan R. Sabel, George E. McHenry, or Jason P. Owen, all ofHanger Orthopedic Group, Inc., +1-301-986-0701
Web site: http://www.hanger.com/
