DEER PARK, N.Y., Dec. 18 /PRNewswire-FirstCall/ -- Langer, Inc. (Nasdaq: GAIT, "Langer" or the "Company") today announced that on Friday December 15th it signed a definitive agreement to purchase substantially all of the assets of Regal Medical Supply, LLC ("Regal") through Langer's wholly- owned subsidiary Regal Acquisition Co. Regal is a Board for Orthotist/Prosthetist Certification accredited supplier of contracture management products and services focused on the long term care market with 24 sales representatives covering both chain and independently operated skilled nursing and assisted living facilities in 22 states. The purchase price is approximately $1.64 million, including the satisfaction of certain obligations to affiliated parties in exchange for the delivery of excess working capital. The transaction consideration will be funded through the issuance of shares of Langer common stock. For the calendar year ended December 31, 2005 Regal generated net sales of approximately $1.87 million and for the nine month period ended September 30, 2006 generated net sales of approximately $1.74 million. Regal President John Shero is expected to execute a three year employment contract and join an affiliate of the Company as its Vice President of Field Sales. The acquisition is expected to close in the first quarter of 2007. Gray Hudkins, the Company's President and CEO commented, "As we have stated on our quarterly earnings conference calls, three important pieces around our strategy for our legacy orthotics business have been defined as an increased focus on markets outside of our historical markets, a focus on larger multi-location institutional clients, as well as the ability to receive higher average selling prices for our products by providing an additional fulfillment and, in some cases, billing services. We believe the Regal acquisition allows us to take a meaningful step toward the achievement of each of these prongs of our strategy. First, Regal offers both off-the-shelf and custom orthotic products into various long term care settings, which has been a priority for us in terms of market diversification for our custom product offerings. Second, we believe there is an interesting opportunity to leverage Regal's structure to create system or chain wide product and service programs for large regional and national multi-location long term care operators, which may provide improved selling leverage and scalable revenue impact than is possible in some of our historical markets. Lastly, because Regal provides an additional fitting and, in some case, billing services, they typically receive higher average selling prices equivalent to the reimbursed insurance rate for certain products rather than the wholesale price." Mr. Hudkins continued, "We also believe this transaction allows Langer to increase its sales coverage in our core markets, to leverage its manufacturing overhead by providing Regal with products it previously sourced from other companies, and to accelerate the execution of our strategy around our legacy orthotics business. John Shero is an entrepreneurial professional with a long track record in the long term care markets and we are excited to welcome him to our team." Langer, Inc., together with its wholly owned subsidiary Silipos, Inc., designs, manufactures and distributes high quality medical products targeting the orthopedic, orthotic and prosthetic markets. In addition, the Company offers a diverse line of skincare products for the medical and therapeutic markets. The Company sells its products primarily in the U.S. and Canada as well as in more than 30 other countries to national, regional, international and independent medical distributors and directly to healthcare professionals. Langer is based in Deer Park, New York, and has additional manufacturing facilities in Niagara Falls, New York, Anaheim, California, Montreal, Canada, Stoke-on-Trent, UK as well as sales and marketing offices in Ontario, Canada and New York, New York. Certain matters discussed in this press release constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. The Company may use words such as "anticipates," "believes," "plans," "expects," "intends," "future" and similar expressions to identify forward-looking statements. These risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including the Company's 2005 Form 10-K, 2006 Proxy Statement for the Annual Meeting of Stockholders, and recently filed Form 10-Qs and Form 8-Ks. DATASOURCE: Langer, Inc. CONTACT: W. Gray Hudkins, President and CEO, +1-212-687-3260 Web site: http://www.langerinc.com/

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