Hanger Announces Impending Acquisition of Coapt
AUSTIN, Texas, February 20, 2025 – Hanger, Inc., a leading provider of orthotic and prosthetic (O&P) patient care services and solutions, announced today it has entered into an agreement to acquire Coapt, a Chicago-based firm that uses cutting-edge myoelectric technology to provide more intuitive and personal control for upper-limb prosthesis wearers.
Coapt works with product manufacturers to incorporate its pattern recognition technology into myoelectric protheses, giving users more natural functional control to fit their lifestyles.
“At Hanger, we’re constantly looking for ways to return independence and control to those with limb loss or limb difference,” shared Pete Stoy, Hanger’s Chief Executive Officer. “I’m thrilled to work with the Coapt team, and their technology is a natural complement to our focus on bringing innovation to patient care. Together we will provide more access and better outcomes to upper-limb prosthesis users.”
“I’m excited about the potential of this partnership,” shared Blair Lock, Coapt CEO. “Hanger’s focus on clinical outcomes, combined with its manufacturing capability and clinic footprint, will help strengthen our products and broaden their use.”
The transaction is expected to close in Q1 of 2025.
About Hanger, Inc.
Headquartered in Austin, Texas, Hanger, Inc. provides comprehensive, outcomes-based orthotic and prosthetic (O&P) services through its Patient Care segment, with more than 900 Hanger Clinic locations nationwide. Through its Products & Services segment, Hanger distributes branded and private label O&P devices, products and components, and provides rehabilitative solutions. Rooted in 160 years of clinical excellence and innovation, Hanger is a purpose-driven company with a vision to lead the O&P markets by providing superior patient care, outcomes, services and value, aimed at empowering human potential. For more information on Hanger, visit corporate.hanger.com.
About Coapt
Founded in 2012, Coapt makes human-machine interfaces and is the first company with FDA Class II Clearance to provide revolutionary and intuitive control technology for advanced prosthetic upper limbs. Founded by four leading researchers in the bionics field, Coapt is based on years of research and clinical care. Coapt is an award-winning company that strives to improve the quality of life for prosthesis users by applying clinically dedicated engineering to its portfolio of transformative technologies. For more information, visit www.coaptengineering.com.
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Steve DeLeon, Hanger, Inc.
512-507-7187, stdeleon@hanger.com