Medical technology company Avanos Medical has agreed to be acquired by American Industrial Partners (AIP) in an all-cash transaction valued at approximately $1.272 billion. The deal, announced on April 14, 2026, will see Avanos stockholders receive $25.00 per share, representing a significant premium over its recent stock price. This acquisition marks another notable private equity move within the healthcare sector.
Avanos, a company focused on delivering clinically superior medical device solutions, will transition to private ownership under AIP, an operationally-oriented industrials investor. Both companies expressed optimism about the transaction’s potential. Gary Blackford, Avanos Board chair, stated that the agreement reflects the company’s strong momentum and is the right path to maximize stockholder value and create new opportunities for employees. David Pacitti, Avanos’ CEO, highlighted that partnering with AIP will enable the company to build on its progress, advance its innovation roadmap, and strengthen its competitive position with enhanced flexibility and resources.
Joel Rotroff, Partner at AIP, commented on Avanos’ differentiated medical technology offerings and its compelling platform for growth. Sunny Li, also a Partner at AIP, added that the firm was impressed by Avanos’ management team, people, and products, believing their operational capabilities will help advance the company’s vision.
The acquisition has received unanimous approval from Avanos’ Board of Directors. The closing is anticipated in the latter half of 2026, contingent upon standard conditions, including stockholder approval and regulatory clearances, such as the expiration of the Hart-Scott-Rodino waiting period. Notably, the transaction is not subject to a financing condition.
Upon the transaction’s completion, Avanos will cease to be a publicly traded company, and its common stock will no longer be listed on the New York Stock Exchange. The company will maintain its headquarters in Alpharetta, Georgia. Avanos has also postponed its 2026 Annual Meeting of Stockholders, originally scheduled for April 21, 2026.
For this transaction, J.P. Morgan Securities LLC served as the lead financial advisor to Avanos, with Alston & Bird, LLP acting as legal counsel. UBS Investment Bank also provided financial advisory services to Avanos. Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor.
AIP received legal counsel from Sidley Austin LLP and regulatory counsel from Baker Botts LLP.
Avanos Medical, Inc. is a medical technology company dedicated to providing solutions that help patients recover and return to their lives. The company focuses on areas such as nutrition, pain management, and surgical recovery, with globally recognized brands and leading market positions.
American Industrial Partners is an investment firm focused on industrial businesses, managing approximately $17.5 billion in assets. AIP aims to create long-term value by partnering with management teams to implement transformative operating strategies.