Hanger to Acquire Numotion to Expand Mobility Offering

Hanger, a provider of orthotic and prosthetic (O&P) technology and services, announced that it will acquire Numotion, an AEA Investors portfolio company that provides Complex Rehabilitation Technology (CRT) and mobility products and services in the U.S. and Canada.

Hanger Numotion will continue serving customers under their existing brands and respective clinical operations. The strategic combination will create a scaled North American platform with complementary capabilities across O&P, CRT, and mobility and independence solutions.

Together, the organizations will serve more than 1.5 million patients annually across the U.S. and Canada through Hanger’s 925 U.S.-based O&P clinics and Numotion’s 200+ locations across North America. The combination will also provide greater scale and resources to expand access to care, invest in clinicians, and further product innovation.

After the deal closes, Numotion CEO Mike Swinford will become CEO of the combined company. Swinford has led Numotion since 2014, and before joining spent over 20 years at GE, including as president and CEO of GE Healthcare Services.

The transaction is expected to close in the fourth quarter of this year.

Comments from Hanger and Numotion execs

Swinford: “Our two companies share a fundamental belief in the role mobility can play in improving people’s lives. By bringing together our respective experience, capabilities, and passion to serve our customers and patients, we have an opportunity to build on each company’s strengths and help more people across their mobility journeys. I’d like to personally thank Pete for his outstanding leadership, AEA for its strong partnership and commitment as Numotion’s primary investor, and LLR for its longstanding investment in and support of the company. I look forward to working with teams across Hanger, Numotion, and Patient Square as we bring our organizations together and advance our shared commitment to helping people live with greater mobility and independence.”

Pete Stoy, current Hanger CEO: “I am incredibly proud of what our team has accomplished at Hanger and the transformation the business has undergone since I joined the company in 2020. Together, we have built a stronger, more integrated national platform, invested meaningfully in our people, technology, and capabilities, and positioned Hanger for sustained growth. I have worked with Mike closely throughout this process, and I have tremendous confidence in his ability to lead Hanger Numotion following the close of the transaction. He is an accomplished leader who shares our commitment to patients and our people, and I believe he is well-positioned to build on Hanger’s momentum and realize the tremendous potential of the combined organization ahead.”

Jim Momtazee, managing partner of Patient Square Capital, Hanger board director: “Hanger and Numotion have each built leading and highly respected organizations around a shared commitment to helping people live with greater mobility and independence. We are excited to support the combined talent of these two organizations and believe together they can have even greater impact on patients.”