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

Author: Vandana Singh | July 22, 2022 06:51am

Healthcare investment firm, Patient Square Capital, will take Medical devices maker Hanger Inc (NYSE: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.

Posted In: HNGR