Hanger Orthopedic Buys Paris O&P

Hanger Orthopedic Group Inc., which owns and operates orthotic and prosthetic patient care centers, said Thursday it bought Paris, Texas-based Paris O&P Inc. for an undisclosed sum.

The company said the acquisition would add to earnings, but did not specify a timeline or by how much.

Paris O&P provides orthotic and prosthetic services in Paris, Greenville and Sulphur Springs, Texas and in Hugo, Okla.

“The transaction is consistent with our acquisition strategy to further increase densities in certain areas and opportunistically expand in attractive markets,” Hanger Chairman and Chief Executive Ivan R. Sabel said in a statement.

Shares of Hanger declined 44 cents, or 4 percent, to finish at $10.55.

SOURCE: THE NEW YORK TIMES