Hanger has agreed to acquire Numotion for cash, combining two major mobility and patient care businesses into a new organization called Hanger Numotion. The combined company will be controlled by Patient Square Capital. Financial terms of the transaction were not disclosed.
Hanger provides orthotic and prosthetic patient care services and products, while Numotion specializes in Complex Rehabilitation Technology and other mobility products and services.
Following completion of the transaction, Hanger and Numotion will continue operating under their existing brands and maintain their respective clinical operations.
Together, the companies are expected to serve more than 1.5 million patients annually across the United States and Canada.
Hanger operates approximately 925 orthotic and prosthetic clinics in the United States, while Numotion has more than 200 locations across North America.
The combination is designed to create a larger North American platform spanning orthotics and prosthetics, Complex Rehabilitation Technology, mobility and independence solutions.
The expanded scale is also expected to provide additional resources for improving access to care, investing in clinicians and supporting product innovation.
Numotion CEO Mike Swinford will become CEO of Hanger Numotion following completion of the transaction.
Swinford has led Numotion since 2014 and previously spent more than two decades at GE, including serving as President and CEO of GE Healthcare Services.
Current Hanger CEO Pete Stoy has led the company since 2020 and has overseen investments in Hanger’s people, technology and capabilities.
Numotion serves more than 500,000 people annually and is North America’s largest provider of mobility products and services.
Its portfolio includes Complex Rehab Technology, Numotion Catheters, Numotion Speech, CorLife, SpinLife, SpinKids and Motion, a Canadian provider of customized mobility and home accessibility solutions.
Hanger operates through Patient Care and Products & Services segments. In addition to its clinic network, the company designs and distributes orthotic and prosthetic devices, products and components and provides consulting and post-acute rehabilitation solutions.
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
Barclays, Citi, Santander and Wells Fargo are serving as financial advisors to Hanger, while Kirkland & Ellis is serving as legal counsel.
Jefferies is serving as lead financial advisor to Numotion, while Fried, Frank, Harris, Shriver & Jacobson is serving as legal counsel.
Patient Square Capital manages approximately $19 billion in assets and focuses exclusively on healthcare investments.
KEY QUOTES:
“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.”
Mike Swinford, CEO of Numotion and Incoming CEO of Hanger Numotion
“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.”
Pete Stoy, CEO of Hanger
“Hanger and Numotion have each built leading and highly respected organizations around a shared commitment to helping people live with greater mobility and independence.”
Jim Momtazee, Managing Partner of Patient Square Capital and Board Director of Hanger
