AIP will purchase Avanos Medical for $1.27 billion
US-based Avanos Medical has entered right into a definitive settlement to be acquired by associates of American Industrial Companions (AIP) in an all-cash transaction, valuing the corporate at an enterprise worth of roughly $1.27 billion.
Beneath the settlement, Avanos Medical shareholders will obtain $25 in money for every share of frequent inventory they personal.
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The acquisition value per share represents a 72.1% premium to the corporate’s closing share value on the final buying and selling day earlier than the announcement this month, and an 82.8% premium to the corporate’s 30-day volume-weighted common share value for the interval ended this month.
The Avanos Medical Board of Administrators unanimously accredited the transaction.
Closing is anticipated within the second half of 2026, topic to straightforward closing situations, together with Avanos shareholder approval, expiration of the Hart-Scott-Rodino Antitrust Enhancements Act ready interval and different regulatory approvals. There aren’t any financing situations hooked up to the deal.
Following the closing, Avanos Medical will develop into a personal firm primarily based in Alpharetta, Georgia, and its frequent inventory will not be listed on the New York Inventory Change.
JP Morgan Securities is serving as lead monetary advisor to Avanos Medical, and Alston & Fowl is serving as authorized advisor.
UBS Funding Financial institution additionally served as monetary advisor. As well as, Joele Frank and Wilkinson Brimmer Katcher act as strategic communications advisors.
Sidley Austin is performing as authorized counsel to AIP, with Baker Botts performing as supervisor.
Avanos Medical CEO David Pacitti stated: “Over the previous few years, now we have made deliberate steps to develop into a extra targeted medical expertise group, specializing in the classes the place we will ship essentially the most scientific worth.
“By working with AIP, we will higher construct on our progress, advance our innovation roadmap and strengthen our aggressive place with higher flexibility and assets.
“I look ahead to working with AIP because the Avanos workforce embarks on a brand new chapter marked by progress and compelling advantages for workers, sufferers, prospects and all our stakeholders.”
