What You Should Know:
- Orthotic and prosthetic (O&P) patient care leader Hanger, Inc. has entered into a definitive agreement to acquire Numotion, a major provider of Complex Rehabilitation Technology (CRT) and mobility solutions, forming Hanger Numotion.
- Structured as an all-cash acquisition of Numotion by Hanger. The combined entity will be majority-controlled by healthcare private equity firm Patient Square Capital (which took Hanger private in 2022). Numotion is being sold by primary investor AEA Investors alongside minority backer LLR Partners.
- Both organizations will retain their respective consumer-facing commercial brands and day-to-day clinical operations post-close, avoiding provider disruption while combining supply chains, payer contracting, and capital deployment.
- Current Numotion CEO Mike Swinford (former President and CEO of GE Healthcare Services, who has led Numotion since 2014) will become CEO of the combined company. Current Hanger CEO Pete Stoy will step down shortly after leading Hanger’s operational transformation since 2020.
Hanger Acquires Numotion to Forge a Scaled Orthotic, Prosthetic, and Complex Rehab Platform
Patients with physical disabilities, severe neurological conditions, or limb loss frequently navigate a fragmented rehabilitation ecosystem: custom orthotics and prosthetics (O&P) are managed by specialized clinical fabricators, while power wheelchairs, standing frames, and complex rehabilitation technologies (CRT) are sourced through separate mobility equipment providers. This separation complicates referral handoffs, delays payer prior authorizations, and fragments longitudinal clinical care.
To integrate orthotic, prosthetic, and complex mobility solutions under a unified platform, Hanger, Inc. has entered into a definitive agreement to acquire Numotion in an all-cash transaction, creating a combined entity to be known as Hanger Numotion. The combined company will be controlled by healthcare private equity firm Patient Square Capital (which took Hanger private in 2022). Numotion is being acquired from AEA Investors and LLR Partners.
Scale and Clinical Reach Across North America
The merger unites two of North America’s largest outpatient mobility and physical independence providers:
- Footprint and Volume: The combined entity will serve more than 1.5 million patients annually across the United States and Canada.
- Clinic and Distribution Infrastructure: Brings together Hanger’s network of approximately 925 nationwide O&P patient care clinics and specialized distribution operations with Numotion’s 200+ CRT and mobility branches.
- Brand and Operational Structure: Both organizations will maintain their respective brand identities, clinical locations, and patient-facing operations post-close.
Executive Leadership Realignment
Following the transaction’s close—expected in the fourth quarter of 2026 subject to regulatory clearance:
- Mike Swinford, who has led Numotion as CEO since 2014 following a two-decade career at General Electric (including serving as President and CEO of GE Healthcare Services), will become Chief Executive Officer of Hanger Numotion.
- Pete Stoy, who has led Hanger as CEO since joining the company in 2020, will step down from the chief executive role following close after overseeing the integration process with Swinford.
Strategic Rationale: Consolidating the Outpatient Mobility Continuum
From a clinical and payer contracting standpoint, the combination addresses several operational and commercial opportunities:
- Holistic Neurological and Musculoskeletal Care: Patients with conditions such as spinal cord injuries, stroke, amyotrophic lateral sclerosis (ALS), cerebral palsy, or severe diabetic limb complications frequently require both custom O&P orthoses/prostheses and CRT seating or power mobility systems. Unifying these services under single parent ownership allows cross-referral coordination and shared clinical evaluation data.
- Scale in Payer and Post-Acute Contracting: A combined clinical network spanning over 1,100 total locations enhances leverage when negotiating national commercial payer agreements, managing Medicare durable medical equipment (DME) coverage requirements, and establishing coordinated preferred-provider partnerships with inpatient rehabilitation facilities (IRFs) and skilled nursing facilities (SNFs).
- Consolidated R&D and Clinical Sourcing: Combines Hanger’s central manufacturing and products/services distribution arm with Numotion’s assistive technology supplier channels, creating buying scale with original equipment manufacturers (OEMs) and funding technology investments in clinician workflow tools and digital gait/seating analytics.
“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 Mike Swinford, CEO of Numotion and incoming CEO of Hanger Numotion.
