AUSTIN, Texas, Dec. 19, 2011 /PRNewswire/ -- Hanger Orthopedic Group, Inc. (NYSE: HGR) today announced that its Board of Directors has elected Patricia B. Shrader, Vice President of Global Regulatory Affairs at Medtronic, Inc., to join the Board as a director, effective December 19, 2011. Ms. Shrader qualifies as an independent director under applicable New York Stock Exchange listing standards. Ms. Shrader is filling the vacancy created by the resignation of Board Member Bennett Rosenthal earlier in the day on December 19, 2011.
"We are very excited to welcome Patricia Shrader to Hanger's Board. Patricia's nearly 25-year career in regulatory and external affairs in the medical device and diagnostics industry will prove useful in the future as we continue to grow in ever-changing regulatory and public policy environments," said Thomas F. Kirk, CEO of Hanger Orthopedic Group.
Mr. Rosenthal, a Senior Partner and co-head of Private Equity Group at Ares Management, LLC, a private investment management firm, joined Hanger's Board of Directors in 2006 in connection with Ares' $50 million equity investment in the Company. The investment was made as part of the Company's refinancing of all of its then-outstanding senior debt and preferred stock. Ares has since liquidated most of its equity investment in the Company."I have thoroughly enjoyed serving on Hanger's Board of Directors and working closely with its excellent management team. Now I feel that this is a good time for me to focus on other Ares-related investments," commented Mr. Rosenthal. "We would like to thank Bennett for his insight and guidance as a valuable member of our Board of Directors. We have had a great partner in Ares throughout the years," Mr. Kirk said.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV