Hanger Orthopedic Group, Inc. Announces Expiration of Offer to Purchase Outstanding 10 1/4% Senior Notes Due 2014
AUSTIN, Texas, Nov. 17, 2010 /PRNewswire-FirstCall/ – Hanger Orthopedic Group, Inc. (NYSE: HGR) announced today that its cash tender offer (the “Offer”) for any and all of its outstanding 10 1/4% Senior Notes due 2014 (the “Notes”) expired. The Offer expired at 8:00 a.m., New York City time, on November 17, 2010 (the “Expiration Date”). As announced on November 2, 2010, $172,443,000 aggregate principal amount of Notes had been validly tendered before 5:00 p.m., New York City time, on Monday, November 1, 2010 (the “Early Tender Date”). Subsequent to the Early Tender Date and before the Expiration Date no additional Notes have been tendered.
BofA Merrill Lynch and Jefferies & Company acted as dealer managers and D.F. King & Co., Inc. acted as the depositary and information agent for the Offer.
About Hanger Orthopedic Group, Inc.
Hanger Orthopedic Group, Inc., headquartered in Austin, Texas, 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 in excess of 675 patient care centers in 45 states and the District of Columbia, with more than 3,800 employees, including over 1,100 practitioners, as of September 30, 2010. 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 WalkAideÃ‚®, visit http://www.ininc.us. For more information on Hanger, visit http://www.hanger.com.
This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include risks related to the Company’s ability to enter into and derive benefits from managed care contracts, the demand for the Company’s orthotic and prosthetic services and products and the other factors identified in the Company’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934. The Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Hanger Orthopedic Group, Inc.