AVANOS MEDICAL, INC. (AVNS): M&A transaction — Avanos closes sale of Respiratory Health business to SunMed for $110M cash

AVANOS MEDICAL, INC.

Divestiture of Avanos' Respiratory Health business closed Oct 2, 2023; $110M cash purchase price subject to adjustments for indebtedness, inventory, and chargebacks.
Amendment adds Assumed Chargeback Liabilities definition; purchase price reduced by estimated chargeback amount with final adjustment by Oct 31, 2023.
India-related assets transferred separately at $910,000 purchase price; India purchase agreement to be executed post-closing.
Indemnification cap for India VAT losses set at $172,000; other amendments modify purchase price calculation and escrow details.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

AVANOS MEDICAL, INC. completed a disposition involving SunMed Group Holdings, LLC for $110 million in cash (closed 2023-10-02).

Action: disposition
Counterparty: SunMed Group Holdings, LLC
Consideration: $110 million in cash
Closing: 2023-10-02

Exact text from the filing

Health (“RH”) business (the “Divestiture”). In accordance with the Amended Purchase Agreement, the total purchase price paid by Buyer in connection with the Divestiture was $110 million in cash at the closing, subject to certain adjustments as provided in the Amended Purchase Agreement based on the indebtedness and inventory transferred to Buyer at the closing

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Source: SEC EDGAR

accession 0001606498-23-000071

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