Acquisition of Accelerated Care Plus Corp.
Handled the acquisition of Accelerated Care Plus (ACP), based in Reno, Nevada. The company is the nation’s leading provider of integrated clinical programs for sub-acute and long-term care rehabilitation providers. Hanger Orthopedic Group, Inc. (NYSE:HGR) announced the closing on December 1, 2010. 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 to The ComVest Group and the employee-stockholders of ACP. This transaction included an escrow of cash, employment and noncompetition agreements, and complex issues related to the vesting of stock option awards.