November 14, 2017
Thomas Freyman and John Fox elected to Board of Directors
Thomas Cooper and Cynthia Feldmann to retire effective January 1, 2018
Christopher Begley elected Chairman of the Board effective January 1, 2018
AUSTIN, Texas, Nov. 14, 2017 — Hanger, Inc. (OTC PINK: HNGR) today announced its Board of Directors has elected Thomas C. Freyman and John T. Fox as directors, effective November 14, 2017. The company also announced the retirements of current Chairman of the Board Thomas P. Cooper, MD and Director Cynthia L. Feldmann, and the appointment of current Director Christopher B. Begley as its non-executive Chairman, all effective January 1, 2018.
“Tom and John have more than 55 years’ combined healthcare experience with diverse business backgrounds, making them valuable additions to our company,” stated Vinit Asar, Hanger, Inc. President and Chief Executive Officer (CEO). “These appointments will provide our Board with a fresh perspective and new insight as we continue to deliver on our vision of leading the orthotic and prosthetic markets by providing superior patient care, outcomes, services and value.”
Mr. Freyman recently retired from Abbott Laboratories after serving as Executive Vice President of Finance and Administration, and prior to that, Chief Financial Officer (CFO). Mr. Freyman served in a number of other key roles throughout his 16-year tenure at Abbott Laboratories, a publicly held company that engages in the discovery, development, manufacture and sale of a broad and diversified line of health care products. Earlier in his career, Mr. Freyman held various accounting, financial planning, treasury and controllership roles. Since 2013, Mr. Freyman has been a member of the board of directors and a member of the Audit Committee of Tenneco, Inc. Mr. Freyman, a Certified Public Accountant, earned a bachelor’s degree in accounting from University of Illinois, Urbana-Champaign and a master’s degree in management from Kellogg Graduate School of Management, Northwestern University.
Mr. Fox has held the position of CEO and President of Beaumont Health, Michigan’s largest healthcare system, since 2015. Prior to joining Beaumont Health, Mr. Fox held positions at Emory Healthcare, the largest and most comprehensive health system in Georgia. He joined Emory as Chief Operating Officer in 1999 and assumed the role of CEO and President in 2002. Throughout his 30+ year career, Mr. Fox has held various roles within the healthcare sector, including Executive Vice President of IU Health, formerly Clarian Health, a large health system and academic medical center in Indianapolis, and Vice President and CFO at The John Hopkins Hospital in Baltimore, Maryland. Mr. Fox was a member of the board of directors at HealthSpring, Inc. from 2010 until its acquisition by Cigna in 2012. After obtaining a bachelor’s and master’s degree in business administration, Mr. Fox began his career as an MBA/CPA at Coopers & Lybrand.
The retirements of Dr. Cooper and Ms. Feldmann will be effective January 1, 2018. Dr. Cooper, a partner of Aperture Venture Partners, a venture capital firm, is Hanger’s longest serving director, having joined in 1991. He served as the lead independent director prior to his election as non-executive Chairman in 2013. Upon retirement, Dr. Cooper will be designated as Director Emeritus for the Hanger Board of Directors. Ms. Feldmann, Hanger’s second longest serving director and a retired CPA, joined the Hanger Board of Directors in 2003.
“We thank both Tom and Cynthia for their long-tenured service to Hanger,” Mr. Asar said. “They have both made significant contributions to our company as members of the board of directors, providing thoughtful guidance that has allowed Hanger to maintain its position as the world’s premiere provider of orthotic and prosthetic solutions.”
Upon the retirement of Dr. Cooper, the current Chairman of the Board, current Director Christopher B. Begley will assume the role of non-executive Chairman effective January 1, 2018.
“Since his appointment to the Hanger Board of Directors in 2013, Chris has been an integral part of our company and we are honored to have him serve as Chairman of the Board,” said Mr. Asar. “With 40 years’ experience in the healthcare industry, including his former role as Chairman and CEO of a global hospital products company, Chris is well-positioned to provide strategic counsel as Chairman as we continue to grow and build on our more than 155 year heritage.”
About Hanger, Inc. – Headquartered in Austin, Texas, Hanger, Inc. is a leading provider of orthotic and prosthetic (O&P) patient care services and products. The company operates as an ecosystem of diversified companies delivering complementary solutions to individuals and providers with O&P needs, and is organized in two business segments – Patient Care and Products & Services. Through its Patient Care segment, Hanger provides comprehensive, outcomes-based O&P services to individuals of all ages at more than 925 Hanger Clinic locations nationwide. Through its Products & Services segment, Hanger serves the broader O&P community and skilled nursing facilities through designing and distributing branded and private label O&P devices, products and components, providing consulting services, and offering post-acute rehabilitative solutions. Rooted in clinical research, excellence, and innovation, Hanger is a purpose-driven company focused on empowering human potential. For more information, visit corporate.hanger.com.
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Contact:
Annie Myers
External Relations Manager
(210) 440-7380 or [email protected]