Hanger Inc, a leading provider of orthotic and prosthetic (O&P) patient care services and solutions, announced the completion of its previously announced transaction to be acquired by Patient Square Capital, a leading dedicated health care investment firm, in an all-cash transaction. The acquisition was previously announced on July 21, 2022, and Hanger’s stockholders approved the transaction at a Special Meeting of Stockholders held on September 30, 2022.
As a result of the completion of the acquisition, Hanger stockholders will receive $18.75 in cash per share of common stock, and Hanger’s common stock will no longer be traded on the New York Stock Exchange (NYSE). With the closing of the transaction, Hanger will now be a private company and will have more flexibility to invest in future growth initiatives to better serve its patients and customers, while remaining true to its purpose, vision, values, and brand.
“This milestone represents an exciting new chapter for Hanger,” said Vinit Asar, President and Chief Executive Officer, who will continue to lead Hanger. “I would like to thank our entire team for their collective efforts to fulfill our purpose of empowering human potential together, keeping the patient at the center of everything we do. We look forward to partnering with Patient Square Capital to deliver continued growth, innovation, and high-quality care, and positively impact more lives.”
Additional details can be found in a Current Report on Form 8-K to be filed by Hanger with the Securities and Exchange Commission.
[Source(s): Hanger Inc, Business Wire]
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