Hanger Inc, a leading provider of orthotic and prosthetic (O&P) patient care services and solutions, announces that its stockholders approved at a special meeting the acquisition of Hanger by Patient Square Capital, a leading dedicated health care investment firm.

Vinit Asar, Hanger’s President and Chief Executive Officer said, “I would like to express my gratitude to the Hanger stockholders for their support today, and throughout this transaction process. The Hanger team is excited about this partnership with Patient Square Capital, and beginning our next chapter as a private company. We believe this collaboration will enable us to accelerate our growth and enhance our position as the leader in our profession, and ultimately, better fulfill our mantra of empowering human potential.”

The final voting results will be reported in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

Under the terms of the Agreement and Plan of Merger dated July 21, 2022 (the “Merger Agreement”), Hanger stockholders will receive $18.75 in cash per share of common stock. Hanger expects to announce the consummation of the transaction within the coming days, subject to the satisfaction of certain customary closing conditions set forth in the Merger Agreement. Upon completion of the transaction, Hanger will become a privately held company, and its common stock will no longer be traded on the New York Stock Exchange (NYSE).

[Source(s): Hanger Inc, Business Wire]