Hanger Orthopedic Group, Austin, Texas, announced that it has completed the acquisition of Reno, Nevada-based Accelerated Care Plus (ACP). Hanger paid approximately $155 million in cash, which was funded from cash on hand and the proceeds from the concurrent refinancing of its credit facilities. Hanger’s intent to purchase ACP was announced in October.
“The acquisition of ACP joins two industry leaders in adjacent healthcare businesses and provides us with a platform for future growth and diversification of our revenue base,” Hanger Orthopedic Group President and CEO Thomas F. Kirk commented. “It is consistent with our vision to be the provider of choice for services and products that enhance human physical capability.”
