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Hanger Orthopedic Group Signs Definitive Merger Agreement To Acquire Accelerated Care Plus
Date:10/18/2010

obinson Humphrey; and RBC Markets.  Oppenheimer & Co. acted as the exclusive financial advisor to Hanger for this transaction.

Commenting on the announcement, Thomas F. Kirk, president and chief executive officer of Hanger Orthopedic Group, said, "We are very pleased to announce this merger agreement, which joins two industry leaders in adjacent healthcare businesses that share complementary clinical cultures, technology, customers and patient populations.  ACP's future business prospects are similar to Hanger's due to its favorable growth drivers such as: an aging U.S. population, healthcare reform, an increased focus on cost, compliance, quality and outcomes.  Like Hanger, ACP has built a leading and growing position in its market as a result of its solutions-based approach and highly engaged staff who are focused on exceptional customer service.

This transaction is fully consistent with our strategy to achieve long-term growth through disciplined diversification of our revenue streams, whether through the introduction of additional third-party or Hanger-developed products, new distribution channels, geographic expansion or the broadening of our continuum of care.  It is also in line with our vision to be the provider of choice for services and products that enhance human physical capability.  We are confident of ACP's strategic and cultural fit with Hanger and of the potential we have together to drive future growth and shareholder value."

Due to ACP's excellent track record and future prospects to grow within the SNF market and to leverage the significant expansion opportunities that exist in adjacent rehabilitation settings, their management team will remain entirely intact, with its current Chief Executive Officer, John Beach, reporting to Hanger's Executive Vice President and Chief Growth Officer Vinit Asar.  All of ACP's valuable workforce will be offered employment positions, including its Reno
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SOURCE Hanger Orthopedic Group, Inc.
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