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Last €12.07 EUR
Change Today -0.176 / -1.44%
Volume 0.0
HO8 On Other Exchanges
As of 9:34 AM 10/7/15 All times are local (Market data is delayed by at least 15 minutes).

hanger inc (HO8) Snapshot

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52 Week High
03/23/15 - €24.33
52 Week Low
10/2/15 - €11.73
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hanger inc (HO8) Details

Hanger, Inc. provides orthotic and prosthetic (O&P) patient care services, distributes O&P devices and components, manages O&P networks, and offers therapeutic solutions in the United States. It operates in two segments, Patient Care, and Products & Services. The Patient Care segment owns and operates O&P patient care clinics; and manages an O&P provider network that coordinates various aspects of O&P patient care for insurance companies. It also designs, fabricates, fits, and maintains a range of custom-made braces and other devices, including spinal, knee, and sports-medicine braces that provide external support to patients suffering from musculoskeletal disorders, such as ailments of the back, extremities or joints, and injuries from sports or other activities. In addition, this segment provides custom-made artificial limbs for patients, who are without limbs as a result of traumatic injuries, vascular diseases, diabetes, and cancer or congenital disorders. The Products & Services segment distributes O&P components to independent customers and its patient care clinics; fabricates and distributes therapeutic footwear for diabetic patients in the podiatric market; and provides specialized rehabilitation technologies and integrated clinical programs for post-acute rehabilitation to long-term care facilities and other sub-acute rehabilitation providers. It also offers V-Hold, a vacuum technology used in lower extremity prosthetic devices; and WalkAide system, which benefits patients with foot drop condition due to spinal cord injuries. As of December 31, 2013, the company provided O&P patient care services through approximately 740 patient care clinics and 1,300 clinicians in 45 states and the District of Columbia. The company was formerly known as Hanger Orthopedic Group, Inc. and changed its name to Hanger, Inc. in June 2012. Hanger, Inc. was founded in 1861 and is headquartered in Austin, Texas.

4,800 Employees
Last Reported Date: 04/4/14
Founded in 1861

hanger inc (HO8) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $620.4K
President of Southern Prosthetic Supply Inc a...
Total Annual Compensation: $307.6K
Vice President, General Counsel and Secretary
Total Annual Compensation: $289.9K
Compensation as of Fiscal Year 2013.

hanger inc (HO8) Key Developments

Hanger Announces Acceptance Of Its Plan of Compliance By The NYSE

Hanger, Inc. announced that the New York Stock Exchange (the "NYSE") notified the Company that it accepted the Company's plan to regain compliance with the continued listing requirements of the NYSE. On March 18, 2015, the Company received notice from the NYSE indicating that the Company does not satisfy the NYSE's continued listing requirements under the timely filing criteria outlined in Section 802.01E of the NYSE Listed Company Manual as a result of its failure to timely file its Annual Report on Form 10-K for the fiscal year ended December 31, 2014. The Company submitted a plan of compliance to the NYSE on September 9, 2015. On September 18, 2015, the NYSE notified the Company that it accepted the Company's plan of compliance and granted the Company an extension until March 19, 2016 to regain compliance with the NYSE's continued listing standards. The Company will be subject to reassessment by the NYSE during the extension period. Failure to make progress consistent with the plan could result in accelerated trading suspension prior to March 19, 2016, and if the Company does not complete its late filings by March 19, 2016 the NYSE will move forward with the initiation of suspension and delisting procedures.

Hanger, Inc. Announces Amendments to its Credit Agreement Dated as of June 17, 2013

On September 11, 2015, Hanger, Inc. entered into an agreement that modified its Credit Agreement dated as of June 17, 2013 among the Company, the lenders from time to time party thereto and Bank of America, N.A., as agent, as the same was previously amended by the First Amendment and Waiver, dated June 19, 2015 among the Company, the lenders party thereto and the Agent. As described below, this agreement, which is called the Second Amendment and Waiver, waives defaults and events of default under the Credit Agreement and also modifies certain of the terms and covenants contained in the Credit Agreement, with some of the modifications terminating at such time as the Company meets various conditions. The Agreement was negotiated with the lenders and the Agent in connection with the Company's failure to deliver to the lenders certain financial information and other materials for the periods ended September 30, 2014, December 31, 2014, March 31, 2015, and June 30, 2015 (the Financial Information) as required by the First Amendment and Waiver. The Agreement waives the events of default under the Credit Agreement arising from (a) the Company's failure to deliver the Financial Information to the Agent and (b) the failure by the Company to timely deliver the notice required by the Credit Agreement with respect to the Company's failure to deliver the Financial Information. The Agreement also provides that the failure by the Company to deliver the Financial Information to the Agent on or before October 30, 2015 shall be an additional event of default under the Credit Agreement. Until such time as the Company has delivered to the Agent (a) annual and quarterly financial information that demonstrates that the Company would have been in compliance with the financial covenants in the Credit Agreement for the fiscal quarters ended September 30, 2014, December 31, 2014, March 31, 2015, and June 30, 2015 and (b) projections for each fiscal quarter remaining during the term of the Credit Agreement (through June 17, 2018) demonstrating that the Company will be in compliance with the financial covenants in the Credit Agreement as of the end of each fiscal quarter remaining during the term of the Credit Agreement, (i) the amount that the Company can borrow under the Credit Agreement in the form of revolving loans, swing line loans and/or letters of credit has been reduced from $200 million to $146.3 million, and (ii) certain baskets and exceptions to the restrictive covenants in the Credit Agreement have been reduced or eliminated. On September 11, 2015 the Company had $146.3 million drawn on the revolving credit line (including outstanding letters of credit) and approximately $59.5 million of cash on hand. The Company believes it has sufficient liquidity to meet operating needs and planned capital expenditures through the remainder of the year. In connection with the entry into the Agreement, the Company will pay the Agent for the account of each consenting lender an amendment fee in an amount equal to 5 basis points of the outstanding principal amount of the term loan held by such consenting lender plus the amount of such lender's revolving commitments.

Hanger, Inc. Announces Management Changes

Effective August 11, 2015, Gabrielle B. Adams will serve as the principal accounting officer of the Hanger, Inc. for financial reporting purposes with the Securities and Exchange Commission. Ms. Adams, who serves as Vice President Corporate Controller, succeeds Melissa Debes, who served as principal accounting officer since September 8, 2014. Ms. Adams joined the Company in February 2015. Ms. Debes is transitioning to a newly created role at the Company as Vice President of Finance - Products & Services, where she will be responsible for leading the finance and accounting functions for the Company's Products & Services group. Ms. Debes will also play a key leadership role in the needs assessment and implementation plan for the Company's enterprise resource planning (ERP) system, and will continue to assist the Company's accounting team in the completion of its consolidated financial statement remediation and audit.


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Price/Earnings 8.4x
Price/Sales 0.5x
Price/Book 0.8x
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