and Thank morning industry. update call. will then Hanger’s which details provide results you fourth XXXX for provide Tom my and and Thank we summarize prepared after joining the everyone. earnings and full on questions. the remarks, our I business take year financial In you quarter will numbers, will Seth our on good an
For just billion adjusted results start XXXX $X.XX, of under of earnings share revenues net Adjusted and per outlook These XXXX, a with for XXXX. are were $XXX.X provided $X.X million. the line at over the reported EBITDA in XX.X% XXXX Hanger had of we the increase year.
clinic X.X%, X.X%, care in in X.X% X.X% of improvement front. goal was set care, in we Revenue meaningful XXXX, driven growth at patient by of above successful segment XXXX growth a had a grow this with for patient from For or market and growth XXXX. were to same rates growth
totaling the a are patient of all in prosthetics which strong X.X%, of differentiators, patient demonstrate of multi-year intended growth organic year, best-in-class achieved X.X%. superior outcomes to our benefits and investments We core These results and in the experience. for orthotics growth drive
solutions, outlook. was has XXXX, decline factor masked few case services this and been years care in profitability therapeutic for we by last a in in and therapeutic had the products anticipated and growth offset prior specifically with revenues patient included services Segment the O&P a by segment, X.X% net year, our consistent business. the by distribution led in a the were with solutions Products and XXXX
distribution O&P leadership our of on enhance allowing clinic expanding position to full-service to grew O&P independent Our as O&P levels one-stop a business providing the and strong heels customers. us distributor in and service our excellence catalog,
growth we Looking at quarter strong year a fourth the highlights, on footing. finished the
perspective, seasonal net the million, terms you many contribution. was segment and clinic our underlying nature the business, financial positive Total clinic given during the patient of is business XXXX. of rate a revenue completed fourth O&P acquisitions of As very well, impact our of X.X% by growth care reflecting $XXX.X helped in a know, same healthy again late From growth. quarter performed important in QX most the of year and XXXX year-over-year
quarter, the growth. prosthetics revenue to excluding revenues a grew X.X% encouraged with place peak drive a strategies of the growth quarter, care have grew with the patient during X.X%. put in X.X% remain Prosthetics clinic during notable During organic We acquisitions level we XXXX. net multi-tier same
basis. revenue same orthotics X.X% quarter grew a the by Total on during clinic
the success with partially seeing categories. strength in in are shoes inserts growth offsetting We in and custom custom orthotics slower
orthotics. work service to full our As approach and to referral our create a with clinics programs growth in drive in and closely continue platform custom a for clinicians reminder, we provide a sources that
on continues focus level, clinic to show the At service our results. excellence
from XXXX. net XXX-basis score Hanger the of Our of a through XXXX improvement promoter December Clinic, XX for is point end
revenues segment, in or under fourth quarter. the the and by just products $XXX,XXX services to Turning declined X%
the to to with core positive. line moderated of O&P within some distribution componentry and segment, we of fundamentals more providers business anticipated normalized have during industry our rates QX to in the X.X%, independent growth remains distribution growth time. closer Within for rates Underlying
that non-core Tom ahead, EBITDA beginning in shed of year channels, to into Looking of as our discuss revenue will the essentially of XXXX, are XXXX off-the-shelf as the exit such business, made impact non-core unprofitable. as a distribution distribution goods for certain offerings. decision effect on the part strategic we our margin this small negative orthotics low of we and a but third have ongoing party in podiatry, O&P analysis neutral
therapeutic saw exited the and XXXX moderation for declining with $XXX,XXX solutions declines we solutions, we in quarter. by Within therapeutic revenue revenue
will This is locations. beginning to nursing the declines years to exceeding therapeutic reason new that solutions installations seeing client model. at The for XXXX. of SNF we existing cancellations align our this forward, some have is Looking at in see narrow skilled After meaningfully a we in are believe industry, we stress several new positive facility payment client pivoted offerings sign. PDPM with locations
by providers care compliance of the efficiencies SNF allow pathways. improve and quality treatment rehabilitation high provide Our use to and creating evidence-based through technology investments now
along recent the changes, new PDPM well on offerings, and our success flexible new These model in the have front, which gap. sales with the packages helped align contributed with close has pricing more attrition to the
on XXXX. and Hanger As for we therapeutic a a in see headwind consolidated more solutions as result, segment mild results
a into was approximately businesses revenue acquired O&P as midsized XXXX we front, result the during revenue $XX.X XXXX. the small built had full M&A of year. was financial a recognized for outlook This and successful million with XXXX. We and acquisition XXXX consistent of of our year at net the the On end
local team clinic our expand The markets purpose to Hanger’s of geographic and our that high M&A add identify O&P footprint. strategy in is to independent clinicians quality businesses
as and processes position integration at we best strengthened continue a result, in have XXXX valuations. and to the team development enter during have prudent business to integrate XXXX been businesses been O&P Our we attractive and add
clinical opportunities strengthen. and rising, provide We strongly highest achieve to to amongst reputation strong multiple acquisitions pipeline completed invested on we Hanger’s can With of believe for returns the integrations capital prudent, appropriate our shareholders. successful date continues
which touch quarter. briefly last initiative, on chain we I supply detail in discussed want our to
We are this both with which technology on has components. operational important initiative track and
corporate our facility financial our complete environment. to expect that which distribution At underway XXXX. a for have system we cloud-based occur to are will We the level, journey in preparing the we within begun automation
We bring about freight two automation. significant a initiative to increased indirect Hanger in cost efficiency savings materials, our key are of optimistic costs, lower and The will for just enhanced include this well two years. as the as areas savings contributor cost
and We has distribution have ensure received begun manufacturing demand by and to the This proper capital, program stocking consignment-based costs, and our componentry. partners. been inventory also helps in working high centers, lowers freight of inventory, well our implement
United by O&P is very journeys. and in considerable from largest recently their the held States. to build is one place as annual have meeting, of clinicians held Nashville, We the success patients our supplemented national limb of primarily clinical events mainly this the business This our and strategy Hanger the by education vendors, was This and we in loss focused upon. inspirational XXXX, to domestic it on foundation meetings educational year. pleased approximately ahead were well We a event as country, industry people across and in X,XXX and the sessions difference patients. regarding with attended talks our event with training Looking limb Live, partners
driving our strategy XXXX is of demonstrated differentiation that growth.
the and have the are you our notable: relationships. in assets we years. best well likely industry, the the world, has during invaluable as and payor have the we clinical unique If viewed leadership in communities infrastructure consider Hanger last as country this they we invested professionals allied partners hospitals, In with few partnerships team, the and manufacturing relationships: serve, as health also physicians the our across within
going been various the the historically and of outside assets. Our looking into internal forward external mainstream practice. combined medical product of growth has science will The the synergy with of be relationships healthcare O&P our is that reality these
art is that status, Ours is history O&P much term. and partner broader trusted striving small science. as as promotes increased healthcare and to as is health the that cost long Hanger access over reputation with the to to mobility, lower industry it care table bring somewhat is and better a profession the a just a about niche
not our a understand and access partners imagine, can it. access our life. you are driving appreciate prosthetics and, patients of it just better but to about beginning are orthotics, care to or clinical to narrative quality as care This and We value, and access - about has
database service Let up the years. with similar is patients position today of as wrap the documentation is and an prosthetic me on as the O&P our healthcare investments observations rigor are demands positioned cycle made orthotics to need revenue for over utmost referral this now sources beginning we There of the database and the few largest extremity of industries, with have Hanger build our demonstrating outcome industry an outcomes for outcomes a some custom patient the prior other patients we submission our in payors. extremity in to O&P prosthetic upper patients. is our to well industry. because also for last to outcomes claims services excellent and clear have lower Like well the payors. Hanger increased for
on beneficiary patients, from appropriate our our from are primary clinicians. The focus of outcomes benefit the care our receive who they
both generate be and of will day, a leadership outcomes we have value in strong itself the highly clinically strategically. at end the in the fit, that we and enviable differentiated and differentiator. it is the and mantra Hanger not industry, by At defined position by we the Our a we is proposition an devices
Before let I and turn dealing the we to with Tom, situation how are me comment it. covid-XX the over call about
are At the other WHO patient have our our elements monitoring covid-XX business. as patient it all to to reminder, a relates channels As approach care a the as through States. the as of established United Hanger, well care that the CDC we task and is operational force information situation within clinics
these weeks have situation flow clinics; time, within March, in QX in few of our slowdown patient the the As of our this will is time we we be last busiest monitoring seen generally closely. however, not and clinics in a
pleased have In building. on to made and we want our that are I based the are overall we the success investments and long-term performance well momentum closing, XXXX with for in positioned state we
Tom Hanger, and numbers now Thank you through detail. in interest for and your you Tom? attention the take will in
