A Medical Device Daily
Hanger Orthopedic Group (Bethesda, Maryland) reported making five acquisitions: Colorado Professional Medical (Golden), Beverly Hills Prosthetics-Orthotics (Beverly Hills, California), Orthotic-Prosthetic Center (Fairfax, Virginia), Precision Orthotics of Tucson (Tucson, Arizona), and Compton-Jones Orthotics (Charleston, West Virginia), providing “enhanced presence” in these states and adding nine patient care facilities.
Ivan Sabel, CEO and chairman of Hanger, said the purchases continue a strategy of increasing market share “in local markets or providing us entry into interesting new markets... . these transactions were financed with internally generated cash flows and will be accretive to earnings after the completion of the initial integration ... .”
Hanger, a provider of orthotic and prosthetic patient care services, says it is the market leader in the U.S., owning and operating 636 patient care centers in 45 states and the District of Columbia, with more than 1,060 practitioners.
Hanger operates in four units: patient care, consisting of orthotic and prosthetic practice centers; distribution, consisting of distribution centers managing orthotic/prosthetic componentry; Linkia (Rockville, Maryland), a network management company for orthotics/prosthetics; and Innovative Neurotronics, (Austin, Texas), a developer of neuromuscular technologies in collaboration with industry suppliers.
In other dealmaking:
• MediNotes (West Des Moines, Iowa), a developer of electronic health records (EHRs), said it has agreed to acquire Bond Technologies (Chaska, Minnesota), a developer of .NET-based EHR and practice management (PM) solutions such as e-prescribing, patient portals, patient kiosk and image management.
The announcement was made at the HIMSS 08 annual conference. Financial terms were not disclosed.
Donald Schoen, president/CEO of MediNotes, said that with acquisition close, MediNotes “will have the ability to provide a full range of scalable solutions ranging from a best-of-breed interoperable EMR offering to a fully integrated, single-database, .NET-based EHR and PM solution with image management, e-prescribing, patient portals, patient kiosks and many other popular features.”
MediNotes said that with Bond Clinician it will create a one-stop-shop to meet the needs of all types and sizes of physician practices. The company will continue to provide MediNotes e, its stand-alone EHR.
Travis Bond, president of Bond, will serve as MediNotes’ senior executive VP and chief strategy officer.
MediNotes offers an integrated EHR/practice management (PM) suite, as well as an EHR solution installed in more than 4,700 sites nationwide. MediNotes has a satellite office in Tampa, Florida.
• QPS (Newark, Delaware/Springfield, Missouri), a contract research organization providing testing services to support pre-clinical and clinical research and development, said that it completed its acquisition of Bio-Kinetic Clinical Applications (Springfield, Missouri), an “early” CRO with a 240-bed Phase I facility. Bio-Kinetic will retain its name and become a subsidiary of QPS. Terms were not disclosed.
Official launch of the merger will take place at the annual meeting of the American Society for Clinical Pharmacology and Therapeutics (ASCPT) in Orlando.
QPS and Bio-Kinetic’s services cover bioanalysis, biomarkers, gene expression, pharmacogenomics markers, and Phase I studies supporting development of generic products and clinical development.