Avanos sells Respiratory Health to SunMed for $110M, accelerates portfolio focus

AVANOS MEDICAL, INC.

Definitive agreement to sell substantially all RH assets for $110M cash; close expected late 2023.
Transaction includes BALLARD, MICROCUFF, endOclear brands and two manufacturing facilities in Mexico.
Avanos will provide transition services; net proceeds enhance balance sheet for M&A in core categories.
Divestiture is key component of three-year transformation to focus on Digestive Health and Pain Management.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AVANOS MEDICAL, INC. entered into Purchase Agreement with SunMed Group Holdings, LLC valued at $110 million (effective 2023-06-07).

Action: entry
Agreement: asset purchase
Counterparty: SunMed Group Holdings, LLC
Value: $110 million
Effective: 2023-06-07

Exact text from the filing

On June 7, 2023, Avanos Medical, Inc. (the “Company”), entered into a Purchase Agreement (the “Purchase Agreement”) by and among the Company and certain of its affiliates and SunMed Group Holdings, LLC (“Buyer”).

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AVANOS MEDICAL, INC. filing history →

Source: SEC EDGAR

accession 0001606498-23-000050

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