DEER PARK, N.Y., June 29, 2007 (PRIME NEWSWIRE) -- Langer, Inc. (Nasdaq:GAIT) "Langer" or the "Company") today announced the signing of a two year agreement with Genesis Rehabilitation Services ("GRS"), a subsidiary of Genesis HealthCare Corporation, designating Regal Medical, Inc. ("Regal"), a subsidiary of Langer, as a preferred provider of contracture management products and services to patients in long-term care facilities where GRS provides rehabilitation services. Under the agreement, Regal rehabilitation product specialists will work with GRS therapists in implementing tools to identify patients with contracture problems, provide appropriate contracture management products, provide patient billing services, ensure clinical compliance and provide clinically appropriate education and review sessions to GRS personnel at a corporate and facility level. Genesis HealthCare Corporation is one of the nation's largest long-term care providers with over 200 skilled nursing centers and assisted living residences in 13 eastern states. GRS also supplies contract rehabilitation therapy to over 600 healthcare providers in 20 states and the District of Columbia.
Gray Hudkins, Langer's President and CEO, commented, "We are pleased to conclude this agreement with Genesis Rehabilitation Services and we are excited about the potential implications for our medical products and services business. Genesis Rehabilitation Services is one of the largest and most well-respected rehabilitation services providers in the long-term care industry. While we already have been actively recruiting rehabilitation product specialists to grow the long-term care business we acquired through the Regal acquisition, we believe this agreement with Genesis Rehabilitation Services provides a significant corporate institutional relationship with that a multi-facility operator that will serve as a road map to accelerate our recruiting efforts to adequately service the Genesis Rehabilitation Services' network of facilities."
Mr. Hudkins continued, "More generally, this agreement marks another step in the execution of our strategy of building our medical products business through an increased sales focus on large multi-location institutional customers in the long-term care market. We remain committed to our existing distribution channels, including our distributor partners in our Silipos business and various medical specialties in our Langer business, however we believe our focus on this piece of the long-term care market should allow for meaningful customer diversification and growth opportunities."
Langer, Inc., together with its wholly owned subsidiaries Silipos, Inc. and Regal Medical, Inc., is a leading provider of quality medical products and services targeting the long-term care, orthopedic, orthotic and prosthetic markets. Through its wholly owned subsidiaries Twincraft, Inc. and Silipos, Inc., the Company offers a diverse line of bar soap and other skincare products for the private label retail, medical and therapeutic markets. The Company sells its products primarily in the U.S. and Canada, and 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, NY, and has additional manufacturing facilities in Niagara Falls, NY, Winooski, VT, Montreal, Canada, Stoke-on-Trent, UK, and sales and marketing offices in Toronto, Canada, Dallas, TX and New York, NY.
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 2006 Form 10-K, Proxy Statement for the 2007 Annual Meeting of Stockholders, and recently filed Form 10-Qs and Form 8-Ks.