Summary:
Hanger plans to acquire Numotion, creating a scaled North American platform spanning orthotics and prosthetics (O&P), complex rehabilitation technology (CRT), and mobility services serving more than 1.5 million patients annually.
Key Takeaways:
- Expanded scale: The combined company will include Hanger’s 925 O&P clinics and Numotion’s 200+ locations across the U.S. and Canada.
- Leadership change: Numotion CEO Mike Swinford will become CEO of the combined company following the transaction, which is expected to close in Q4 2026.
- Broader capabilities: The companies say the combination will provide greater resources to expand access to care, invest in clinicians and advance product innovation across mobility and independence solutions.
Hanger Numotion will be formed through the combination of Hanger Inc. (Hanger) and Numotion. Hanger is a provider of orthotic and prosthetic (O&P) patient care services and solutions. Numotion, a portfolio company of AEA Investors (AEA), is a provider of complex rehabilitation technology (CRT) and mobility products and services in the U.S. and Canada. Following completion of the transaction, Hanger and Numotion will continue to serve customers under their existing brands and maintain their respective clinical operations, according to Hanger. The transaction will be structured as an acquisition of Numotion for cash by Hanger. The combined company will be controlled by Patient Square Capital.
The strategic combination of Hanger and Numotion will create a scaled North American platform with complementary capabilities across O&P, CRT, and mobility and independence solutions. Together, the organizations will serve more than 1.5 million patients annually across the U.S. and Canada through Hanger’s 925 U.S.-based O&P clinics and Numotion’s 200+ locations across North America. The combination will also provide greater scale and resources to expand access to care, invest in clinicians, and further product innovation, according to the company.
Following close of the transaction, Numotion CEO Mike Swinford will become CEO of the combined company. Mike Swinford is a seasoned executive who has successfully led Numotion since 2014, helping scale the business into a mobility leader through sustained growth, expansion, and diversification. Prior to joining Numotion, Swinford spent more than two decades at GE, including as President and CEO of GE Healthcare Services.
“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,” said Swinford. “I’d like to personally thank Pete for his outstanding leadership, AEA for its strong partnership and commitment as Numotion’s primary investor, and LLR for its longstanding investment in and support of the company. I look forward to working with teams across Hanger, Numotion, and Patient Square as we bring our organizations together and advance our shared commitment to helping people live with greater mobility and independence.”
“I am incredibly proud of what our team has accomplished at Hanger and the transformation the business has undergone since I joined the company in 2020. Together, we have built a stronger, more integrated national platform, invested meaningfully in our people, technology, and capabilities, and positioned Hanger for sustained growth,” said Pete Stoy, current CEO of Hanger, Inc. “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, and I believe he is well-positioned to build on Hanger’s momentum and realize the tremendous potential of the combined organization ahead.”
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions.
