Langer buys Benefoot gait & orthotic lines:
This article was originally published in Clinica
Langer has bought the gait-related and orthotic products ranges of fellow Long Island New York company, Benefoot, for $6 million cash. Langer will also assume long- term liabilities of $400,000, and has agreed to make an additional payment of $1 million in royalties, subject to certain milestones. The assets acquired - from Benefoot Inc and Benefoot Professional Products - generated sales of $7 million in 2001, the range includes gait-related biomechanical products, including prescription and non-prescription orthotic devices. Langer, headquartered in Deer Park and with international sales and manufacturing facilities, says its earnings will benefit immediately.
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