BETHESDA, Md., April 2 /PRNewswire-FirstCall/ -- Hanger Orthopedic Group, Inc. is pleased to announce that Standard & Poor's Rating Services revised its outlook for Hanger Orthopedic Group, Inc. to "stable" from "negative." S&P also affirmed Hanger's corporate credit ratings at "B."
"The outlook revision reflects improvements in the reimbursement environment for Hanger's services in 2007, the company's ability to stabilize its operating cash flow in 2006, and our belief that Hanger's performance in 2007 should be at least as good as it was in 2006," explained Standard & Poor's credit analyst Jesse Juliano.
"We are pleased with the outlook change from S&P as it is a reflection of our improved performance in 2006 and the more positive industry environment we are seeing today," remarked George McHenry, Hanger's Chief Financial Officer.
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 618 patient care centers in 45 states and the District of Columbia, with 3,471 employees including 1,034 practitioners (as of 12/31/06). 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 leading 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.
Hanger Orthopedic Group, Inc.CONTACT: Ivan R. Sabel, George McHenry or Hai Tran, all of HangerOrthopedic Group, Inc., +1-301-986-0701
Web site: http://www.hanger.com/
