American Industrial Partners closes Avanos Medical acquisition

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.