Private company

Hanger, Inc.

American healthcare company

Hanger, Inc. (formerly Hanger Orthopedic Group, Inc.) is a leading American provider of products and services that assist in enhancing or restoring the physical capabilities of patients with disabilities or injuries that is headquartered in Austin, Texas (formerly Bethesda, Maryland).3 From Wikipedia, CC BY-SA 4.0

Last updated Oct 16, 2026.

Overview

  • Industrymedical equipment, prosthesis1
  • HeadquartersAustin1
  • Websitewww.hanger.com
  • Incorporated inDE4
  • Business address10910 Domain Drive, Suite 300, Austin, Tx 787584
  • Filer categoryLarge accelerated filer4

Hanger, Inc. (formerly Hanger Orthopedic Group, Inc.) is a leading American provider of products and services that assist in enhancing or restoring the physical capabilities of patients with disabilities or injuries that is headquartered in Austin, Texas (formerly Bethesda, Maryland). The company provides orthotic and prosthetic (O&P) services, distributes O&P devices and components, manages O&P networks, and provides therapeutic solutions to patients and businesses in acute, post-acute, and clinical settings. Hanger, Inc. operates through two segments: Patient Care and Products & Services.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2021

6.5%Operating margin5
3.7%Net margin5
11.9%Revenue growth, 20215
38.1%Return on equity5
$13.6MFree cash flow5

Where the money goes

Where each dollar of revenue went, fiscal 2021

  • Other costs96¢$1.1B
  • Income tax0¢$1.2M
  • Profit4¢$42.0M

Out of $1.1B in revenue.5

Where each dollar of operating cash went, fiscal 2021

  • Capital spending62¢$22.6M
  • Kept or used elsewhere38¢$13.6M

Out of $36.2M of cash from operations.5

Financial statements

Revenue67895$1.1B in 2021+5% since 2015
0$500.0M$1.0B$1.5B2015: $1.1B$1.1B20152016: $1.0B$1.0B2016−2%2017: $1.0B$1.0B2017−0%2018: $1.0B$1.0B2018+1%2019: $1.1B$1.1B2019+5%2020: $1.0B$1.0B2020−9%2021: $1.1B$1.1B2021+12%
Operating income67895$72.7M in 2021
-$400.0M-$200.0M0$200.0M2015: -$349.6M-$349.6M20152016: -$71.3M-$71.3M2016−80%2017: -$18.9M-$18.9M2017−73%2018: $59.6M$59.6M20182019: $65.4M$65.4M2019+10%2020: $71.9M$71.9M2020+10%2021: $72.7M$72.7M2021+1%
Net income67895$42.0M in 2021
-$400.0M-$300.0M-$200.0M-$100.0M0$100.0M2015: -$327.1M-$327.1M20152016: -$106.5M-$106.5M2016−67%2017: -$104.7M-$104.7M2017−2%2018: -$858.0K-$858.0K2018−99%2019: $27.5M$27.5M20192020: $38.2M$38.2M2020+39%2021: $42.0M$42.0M2021+10%
Fiscal year2015201620172018201920202021
Revenue$1.1B6$1.0B7$1.0B8$1.0B9$1.1B5$1.0B5$1.1B5
Operating income-$349.6M6-$71.3M7-$18.9M8$59.6M9$65.4M5$71.9M5$72.7M5
Interest$100.0K6$100.0K7$100.0K7$100.0K7
Income tax-$67.6M6-$15.9M7$27.3M8$5.2M9$3.0M5$638.0K5$1.2M5
Net income-$327.1M6-$106.5M7-$104.7M8-$858.0K9$27.5M5$38.2M5$42.0M5
Earnings per share-$2.898-$0.029$0.745$1.015$1.095
Earnings per share (diluted)-$2.898-$0.029$0.725$0.995$1.075

Compare Hanger, Inc. with another company

How it started

History

James Edward Hanger, the first documented amputee of the American Civil War, founded the company in Virginia in 1861.

A remark in Ambrose Bierce's postwar memoir that "We shot off a Confederate leg at Philippi" refers to Hanger. At 18 years of age, Hanger joined the Confederate cavalry at Philippi, Virginia, on June 2, 1861. One day later, during the Battle of Philippi, while Hanger was sheltering inside a stable with the rest of the Churchville (Virginia) Cavalry when the "first solid Union cannon shot of the war" bounced into the stable and struck his leg. The injury required amputation of Hanger's leg above the knee; he underwent the first battlefield amputation of the war, at the hands of Union surgeons. Hanger returned to his parents’ home to recuperate wearing a prosthesis that was essentially a wooden peg. His dissatisfaction with the fit and function of the limb replacement led Hanger to design and construct a new prosthesis from whittled barrel staves, rubber and wood, with hinges at the knee and foot. The device worked well, and the state legislature commissioned him to manufacture the “Hanger Limb” for other wounded soldiers.

Manufacturing operations for J.E. Hanger, Inc., were established in the cities of Staunton and Richmond. Hanger was awarded his first patent for an artificial limb, number 155, from the Confederate Patent Office on March 23, 1863. Over the years Hanger developed and patented additional products for veterans and other amputees.

In 1906, Hanger moved the company’s headquarters to Washington, DC. In 1915, he traveled to Europe to help World War I amputees and to learn from European prosthetists.

Hanger’s five sons were active in operating the family business. In 1915, they divided J.E. Hanger, Inc., into four separate companies, with each operating in a different region of the country. At the time of Hanger’s death in 1919, the companies had branches in Atlanta, St. Louis, Philadelphia, Pittsburgh, London and Paris.

From Wikipedia’s article on Hanger, Inc., shared under CC BY-SA 4.0.3

Former names

  • HANGER ORTHOPEDIC GROUP INCMay 18, 1995 to Jun 6, 20124

Recent filings

  1. Oct 4, 20224
  2. Oct 4, 20224
  3. Oct 4, 20224
  4. Oct 4, 20224
  5. Oct 4, 20224
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  15. Oct 4, 20224

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2