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Langer Sells Bi-Op Laboratories

August 1, 2008

Langer has sold the stock of Bi-Op Laboratories, its Quebec subsidiary, to a group of investors for $2.13 million.

The investors include Raynald Henry, the current general manager of Bi-Op, which manufactures custom foot orthotics and provides orthotic and prosthetic services in a clinic co-located with its manufacturing facility.

Langer said the sale allows it to simplify its business and reduce its overall corporate and compliance expenses.