Avanos Medical to Be Acquired by Private Equity Firm in $1.27B Deal

Avanos Medical began a deal to be acquired by affiliates of American Industrial Partners (AIP), an industrials investor, in an all-cash transaction that values the company at an enterprise value of about $1.27 billion.

Under the transaction’s terms, Avanos stockholders will receive $25 per share in cash for each share of owned common stock. The per-share purchase price represents a premium of about 72.1% to the company’s closing stock price on April 13, 2026 and an 82.8% premium to the 30-day volume-weighted average share price for the period ended on the same day.

“Our agreement with AIP is a milestone for Avanos that reflects the strong momentum across the business,” said Avanos board chair Gary Blackford. “After careful consideration alongside our independent advisors, we are confident this agreement with AIP represents the right path forward for Avanos and its stockholders. The Board believes this transaction will maximize value for stockholders, create exciting new opportunities for employees, and best position Avanos for long‑term growth and success.”

Avanos, headquartered in Alpharetta, Ga., addresses some of today’s most crucial healthcare needs. The company provides a lifeline for nutrition to patients from hospital to home, and aims to help reduce opioid use while helping patients move from surgery to recovery.

The transaction is expected to close in the second half of this year, subject to customary conditions including approval by Avanos stockholders. The acquisition was already approved by the company’s board of directors.

“Over the past several years, we have taken deliberate steps to become a more focused medical technology organization, leaning into the categories where we can deliver the most clinical value,” said Avanos CEO David Pacitti. “Partnering with AIP will better enable us to build on our progress, advance our innovation roadmap, and strengthen our competitive position with enhanced flexibility and resources. AIP recognizes the strength of our talented employees and the role they serve in addressing today’s most important healthcare needs. I look forward to working with AIP as the Avanos team begins a new chapter, marked by growth and compelling benefits for employees, patients, customers, and all our stakeholders.”

Once the deal is completed, Avanos will become a private company and its common stock will no longer be listed on the NYSE. The company will stay headquartered in Alpharetta, Ga.

“Avanos is a differentiated medical technology company with strong positions in attractive categories and a compelling platform for continued growth,” said AIP partner Joel Rotroff. “We look forward to partnering with the Avanos team to build on the company’s momentum and support the next phase of innovation and commercial execution.”