Patient Square Capital Takes Medical Device Maker Hanger Private In $1.25B Deal

  • Healthcare investment firm, Patient Square Capital, will take Medical devices maker Hanger Inc HNGR private in a deal worth about $1.25 billion.
  • Under the terms of the agreement, the prosthetic care provider's stockholders will receive $18.75 per share in cash, representing a 27% premium to the stock's closing price of $14.73 on Thursday.
  • Hanger, headquartered in Austin, Texas, provides products and services that enhance or restore the physical capabilities of patients with disabilities or injuries.
  • The transaction is expected to close in the fourth quarter of 2022, and Vinit Asar, the current Chief Executive Officer of Hanger, will continue to lead the company.
  • Price Action: HNGR shares traded 27.4% higher at $18.75 during after-hours trading on Thursday.
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