BETHESDA, Md., May 30 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. announced today that it purchased $190,397,000 principal amount of its outstanding 10 3/8% Senior Notes due 2009 (CUSIP No. 41043FAE9) and $15,485,000 principal amount of its outstanding 11 1/4% Senior Subordinated Notes due 2009 (CUSIP No. 41043FAB5) (collectively, the "Notes"). As a result, the supplemental indentures dated as of May 22, 2006 became operative on May 26, 2006.
The tender offer is scheduled to expire at 11:59 p.m., New York City time, on June 6, 2006, unless such date is extended or earlier terminated (the "Expiration Date"). Holders of Notes who tender their Notes at or prior to the Expiration Date will be eligible to receive only the Tender Offer Consideration set forth in the Offer to Purchase and Consent Solicitation Statement. Holders who tender Notes must also deliver consents to the proposed amendments with respect to the series of such Notes and with respect to the indentures which governs such Notes. Holders may not deliver consents without also tendering their Notes and Holders who validly tender their Notes will be deemed to have delivered their consents.
Lehman Brothers Inc. and Citigroup Corporate and Investment Banking are the co-dealer managers for the Offers and co-solicitation agents for the Consent Solicitations. Questions about the Offers should be directed to Lehman Brothers Inc., toll-free at (800) 438-3242 or (212) 528-7581 (collect), attention: Liability Management and Citigroup Corporate and Investment Banking, toll-free at (800) 558-3745. The information agent for the Offers is D.F. King & Co. Inc. Requests for additional sets of the tender offer materials may be directed to D.F. King & Co. Inc., by calling toll-free at (800) 735-3107.
This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes in any state or jurisdiction in which such offer or solicitation would be unlawful prior to registration or qualification under the securities law of any such state or other jurisdiction. The Offers and Solicitations are only made pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement, dated May 9, 2006.
Hanger Orthopedic Group, Inc., headquartered in Bethesda, Maryland, is the world's premier provider of orthotic and prosthetic patient care services. Hanger is the market leader in the United States, owning and operating 621 patient care centers in 46 states including the District of Columbia, with 3,290 employees including 1,032 practitioners (as of 3/31/06). Hanger is organized into four units. The two key operating units are 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. The third is Linkia which is the first and only provider network management company for the orthotics and prosthetics industry. The fourth unit, Innovative Neurotronics, introduces emerging neuromuscular technologies developed through independent research in a collaborative effort with industry suppliers worldwide. For more information on Innovative Neurotronics, Inc. or the WalkAide, visit http://www.ininc.us. For more information on Hanger, visit http://www.hanger.com.
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 McHenry or Hai Tran of Hanger OrthopedicGroup, Inc., +1-301-986-0701
Web site: http://www.hanger.com/
