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

headquarters staff and its network of 150+ licensed physical and occupational therapists that provide clinical education and program support for ACP's client-partners.

Commenting on the announcement, John Beach, president and chief executive officer of ACP, said, "Hanger Orthopedic Group is well-known for their innovative technologies, effective clinical solutions, and exceptional customer service.  They have grown consistently throughout the economic downturn and have proven their keen adaptability to flourish in an ever-changing healthcare environment.  Speaking for myself and on behalf of the other senior leadership at ACP, we are confident that joining the Hanger family of companies will provide us with the resources and support we need to help improve quality of life for more patients and continue our mission of revolutionizing rehabilitation."

For 2010, Hanger anticipates ACP will produce revenues of approximately $57 million and approximately $17 million of EBITDA.  Hanger also expects that the transaction will be accretive to Hanger's 2011 financial results and, depending on the timing of the transaction's closing, to have a neutral to slightly accretive impact on our results for 2010.  

Hanger will host a conference call tomorrow morning, Tuesday, October 19, 2010, at 9:00 a.m., EDT, to discuss the acquisition of ACP. Those wishing to participate should call 1-800-931-9710. In addition, a replay will be available until October 26, 2010 by dialing 1-800-642-1687 and referencing Conf. ID # 19288899.

About Hanger – Hanger Orthopedic Group, Inc., headquartered in Austin, Texas, is the world's premier provider of orthotic and prosthetic patient care services. Hanger is the market leader in the United States, owning and operating in excess of 675 patient care centers in 45 states and the District of Columbia, with more than 3,800 employees, including over 1,100 practitioners, as of September 30, 2010 &#
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SOURCE Hanger Orthopedic Group, Inc.
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