need help in repotting of extremely rootbound phalaenopsis

[shahrezsyed]

everybody!
i bought a new phal which was potted in sphagnum. it is very healthy,every single root is plump and green but it is so root bound that everyroot is on top of each other and its like one solid block of jammed roots. the orchid is so pot bound that the clear plastic pot has burst open and no medium hass dislodged still and it is still a unmovable mass of roots . so, the question is how sud i repot it.?i think that,s enough info for every orchid orchid genius here at OB to figure it out.

P.S:i was thinking that i cud pot it in a hanging basket
just like this without loosening the roots and cleaning out the previous medium?
othervise it is very healthy!