American Industrial Partners closes Avanos Medical acquisition
Valued at $1.272 billion, the take-private creates a medical device platform for the sponsor, selling nutrition delivery and pain management products into hospital and home care channels.
Takeaways
- Avanos Medical is a medical technology company providing nutrition and pain management devices.
- American Industrial Partners is acquiring Avanos Medical.
- The business serves hospitals and home care.
Avanos Medical, a medical technology company providing nutrition delivery and pain management devices, has been taken private by American Industrial Partners in a transaction valued at approximately $1.272 billion.
Stockholders will receive $25.00, and the company's common stock has ceased trading on the New York Stock Exchange.
The Alpharetta, Georgia-based business sells into hospital and home care settings.
"We are excited to partner with Avanos to deliver a compelling platform for continued growth in the medical technology sector," said Joel Rotroff, partner at AIP.
AIP, an operationally oriented industrials investor with about $17.8 billion in assets under management, aims to use its operational expertise to accelerate growth and innovation at the medical device company.
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