Hanger, Inc. (NYSE: HNGR) today announced the promotion and
hiring of two senior executives to lead its two business segments,
effective Nov. 2, 2020:
- Regina Weger has been promoted to President, Products &
Services;
- Pete Stoy will join Hanger in the newly formed position of
Chief Operating Officer, to lead the Patient Care segment.
Vinit Asar, President and Chief Executive Officer (CEO) of
Hanger, stated, “As we look beyond 2020 and the COVID-19 pandemic,
we remain committed to ensuring Hanger is led by the strongest
team, organized in a manner that maximizes our full potential. I am
pleased to announce an internal promotion and welcome a new
healthcare industry veteran to Hanger. Together these appointments
demonstrate our commitment to a culture of building leaders, and
will ensure our long-term goal of driving sustained growth for the
benefit of all stakeholders.”
Regina Weger joined Hanger’s industry-leading, national
provider of orthotics and prosthetics (O&P) componentry
distribution, Southern Prosthetic Supply (SPS), more than 20 years
ago. Ms. Weger assumed increasingly larger and more complex roles
in customer service, marketing, sales and operations, until she
became SPS President in November of 2019. From the beginning of her
career at SPS, Ms. Weger has demonstrated herself to be a valued
leader with a highly successful record of driving growth through
high-quality customer service and an unwavering commitment to
serving O&P clinics nationally to ensure excellence in patient
care. As President of Hanger’s Products & Services segment, Ms.
Weger will now also oversee Hanger’s Accelerated Care Plus (ACP)
therapeutic solutions subsidiary. Together with SPS, these business
units constitute over 17 percent of Hanger’s revenue thus far in
2020. Ms. Weger will continue to report directly to Hanger’s
President and CEO, Vinit Asar, and serve on the Senior Leadership
Team for Hanger.
“Regina is an exceptional, accomplished and recognized leader in
the O&P profession,” stated Asar. “In her new role, she will
bring a cohesive strategy and operational focus to the Products
& Services segment, enhancing and growing external partnerships
with a customer-focused and growth approach.”
Pete Stoy brings nearly 20 years of healthcare experience
to Hanger with leadership in large, complex organizations, and
designation as a Fellow of the American College of Healthcare
Executives (FACHE). Mr. Stoy has a balanced skillset and
perspective, having led large-scale commercial, operational, supply
chain, and finance functions. He is experienced with managing
strategic relationships at the most senior levels in some of the
country’s largest integrated healthcare delivery systems. Mr. Stoy
joins Hanger from the healthcare business of Sodexo, where he most
recently served as East Region President, responsible for all
operations, including thousands of provider and hospital-based
support service employees. Prior to his most recent role, Mr. Stoy
served in leadership positions at McKesson where he oversaw the
multi-billion dollar McKesson U.S. Pharmaceutical Health System
segment, and also held senior positions in hospital sales and
pharmaceutical distribution during his 13-year employment at
Cardinal Health.
The new position of Chief Operating Officer aligns the Company’s
Patient Care segment to reflect the increasing complexity, growth
opportunities, and interdependencies of clinic operations, sales,
marketing, supply chain management, as well as strategic oversight
of Hanger’s corporate and business development programs. Mr. Stoy
brings the appropriate experience and vision to this role and will
report to President and CEO Asar.
“Pete is a customer-centered leader with exceptional
relationships across many large healthcare systems and the
healthcare supply chain,” Asar continued. “For Hanger, he brings a
keen focus and passion to the patient care experience, which is
critical to achieving our goal of empowering human potential. I am
looking forward to working with him as we continue to lead our
profession by providing superior patient care, outcomes, services
and value.”
About Hanger, Inc. – Hanger, Inc. (NYSE: HNGR) delivers
orthotic and prosthetic (O&P) patient care, and distributes
O&P products and rehabilitative solutions to the broader
market. Hanger's Patient Care segment is the largest owner and
operator of O&P patient care clinics with approximately 800
locations nationwide. Through its Products & Services segment,
Hanger distributes branded and private label O&P devices,
products and components, and provides rehabilitative solutions.
With nearly 160 years of clinical excellence and innovation,
Hanger's vision is to lead the orthotic and prosthetic markets by
providing superior patient care, outcomes, services and value. For
information on Hanger, visit http://investor.hanger.com.
This press release contains statements that are forward-looking
statements within the meaning of the federal securities laws.
Forward-looking statements include information concerning our
liquidity and our possible or assumed future results of operations,
including descriptions of our business strategies. These statements
often include words such as “believe,” “expect,” “project,”
“potential,” “anticipate,” “intend,” “plan,” “estimate,” “seek,”
“will,” “may,” “would,” “should,” “could,” “forecasts” or similar
words. These statements are based on certain assumptions that we
have made in light of our experience in the industry as well as our
perceptions of historical trends, current conditions, expected
future developments and other factors we believe are appropriate in
these circumstances. We believe these assumptions are reasonable,
but you should understand that these statements are not guarantees
of performance or results, and our actual results could differ
materially from those expressed in the forward-looking statements
due to a variety of important factors, both positive and negative,
that may be revised or supplemented in subsequent releases or
reports. These statements involve risks, estimates, assumptions,
and uncertainties that could cause actual results to differ
materially from those expressed in these statements and elsewhere
in this release. These uncertainties include, but are not limited
to, the financial and business impacts of COVID-19 on our
operations and the operations of our customers, suppliers,
governmental and private payers and others in the healthcare
industry and beyond; federal laws governing the health care
industry; governmental policies affecting O&P operations,
including with respect to reimbursement; failure to successfully
implement a new enterprise resource planning system or other
disruptions to information technology systems; the inability to
successfully execute our acquisition strategy, including
integration of recently acquired O&P clinics into our existing
business; changes in the demand for our O&P products and
services, including additional competition in the O&P services
market; disruptions to our supply chain; our ability to enter into
and derive benefits from managed-care contracts; our ability to
successfully attract and retain qualified O&P clinicians; and
other risks and uncertainties generally affecting the health care
industry. For additional information and risk factors that could
affect the Company, see its Form 10-K for the year ended December
31, 2019 and Quarterly Report on Form 10-Q for the three months
ended June 30, 2020, each as filed with the Securities and Exchange
Commission. The information contained in this press release is made
only as of the date hereof, even if subsequently made available by
the Company on its website or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20201014005103/en/
Investor Relations Contact: Seth Frank, Vice President, Treasury
and Investor Relations Hanger, Inc. 512-777-3573
sfrank@hanger.com
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