NOVACARE'S ORTHOPEDIC SERVICES, INC. ACQUIRES MOBILITY ORTHOTICS AND PROSTHETICS, INC.
NOVACARE'S ORTHOPEDIC SERVICES, INC. ACQUIRES MOBILITY ORTHOTICS AND PROSTHETICS, INC. VALLEY FORGE, Pa., March 23 /PRNewswire/ -- Orthopedic Services Inc., a wholly owned subsidiary of NovaCare Inc. (NYSE: NOV) and the leading provider of patient care services in the orthotic and prosthetic (O&P) industry, today announced the acquisition of Mobility Orthotics and Prosthetics, Inc. (Mobility) headquartered in Fredericksburg, Va. Mobility was founded in 1987 by McCarthy Hanger, III (Mac), the great grandson of J.E. Hanger, the Civil War amputee who is credited with founding the modern prosthetics industry. In addition to the large facility in Fredericksburg, the company also operates patient care centers in Baltimore, and Falls Church, Va. Mobility owner Mac Hanger cited that he was professionally in a position where he wanted to become part of a larger organization. "OSI's philosophy goes along with mine. They are very committed to excellence in patient care. The merger will give us greater resources to continue to expand our practice." OSI President Jeffrey S. Levitt commented," Mobility Orthotics and Prosthetics is one of the best practices in the area. Their three locations firmly establish us in the Washington/Baltimore area allowing us a base of operations from which we can extend further into Virginia and Maryland." OSI is the largest provider of patient care services in the orthotic and prosthetic rehabilitation segment of the healthcare services industry. OSI currently provides services through 103 patient care centers in 21 states. Orthotic rehabilitation is the fitting, design and fabrication of custom-made braces and support devices for the treatment of musculoskeletal conditions resulting from illness, injury, or congenital abnormalities. Prosthetic rehabilitation is the fitting, design and fabrication of custom-made artificial limbs required by people who have suffered the loss of a limb from vascular disease, diabetes, cancer or traumatic injuries. NovaCare, Inc. is the largest provider of contract rehabilitation therapy services to the healthcare industry. The company also operates seven freestanding rehabilitation hospital and six community rehabilitation service programs. -0- 3/23/92 /CONTACT: Jeffrey S. Levitt, president of Orthopedic Services, 215-631-9900, or Tony Russo of Noonan/Russo Communications, 212-979-9180, for Orthopedic Services/ (NOV) CO: Orthopedic Services Inc. ST: Pennsylvania IN: MTC SU: TNM
SH-AH -- NY009 -- 0447 03/23/92 09:47 EST
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|Date:||Mar 23, 1992|
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