AIP to Acquire Avanos Medical in 1.27 Billion Dollar Deal

AVANOS MEDICAL INC announced on Tuesday that it has reached a definitive agreement to be acquired by affiliates of American Industrial Partners (AIP). The transaction is structured as an all-cash deal valued at approximately $1.27 billion, which will result in the medical technology company transitioning to private ownership.

The acquisition marks a significant shift for the firm as it moves away from public markets. American Industrial Partners, a private equity firm with a focus on industrial and healthcare-related businesses, intends to support the company's strategic growth initiatives following the completion of the deal. The board of directors at Avanos Medical Inc has approved the terms of the merger, which remains subject to customary closing conditions and regulatory approvals.