Patient Square Capital completed the acquisition of Hanger for $1.25bn.

Patient Square Capital, a private equity firm, completed the acquisition of Hanger, a provider of orthotic and prosthetic patient care services and solutions, for $1.25bn. “I’m very pleased to be announcing this agreement today as the transaction will result in immediate and substantial value creation for our stockholders. This transaction represents a culmination of an extensive review by our Board of Directors of strategic alternatives to provide value to our stockholders and to offer financial flexibility for our company to pursue future growth initiatives. Patient Square Capital recognizes the value of our brand and the quality of our world-class team, and is grounded in similar values that guide our actions. They share the same long-term vision for our company, which makes them an excellent partner for the next phase of our journey,” Vinit Asar, Hanger President and Chief Executive Officer. On September 30, 2022, Hanger's stockholders approved Patient Square's acquisition.