American Industrial Partners to acquire US medtech firm Avanos Medical in $1.27bn take-private deal

Georgia-headquartered medical technology company Avanos Medical has entered a definitive agreement to be acquired by affiliates of American Industrial Partners (AIP) in a transaction worth $1.27 billion (€1.07 billion), taking the firm private and ending its listing on the New York Stock Exchange.

According to Bioxconomy, Avanos stockholders will receive $25 (€21.08) per share in cash, a premium of 72.1% over the company's closing stock price on 13 April 2026. The acquisition has been unanimously approved by Avanos' board of directors and is expected to close in the second half of 2026. The company will continue to operate from its Alpharetta, Georgia headquarters.

Board chair Gary Blackford said the transaction reflected the business's underlying strength. "Our agreement with AIP is a milestone for Avanos that reflects the strong momentum across the business. After careful consideration alongside our independent advisors, we are confident this agreement with AIP represents the right path forward for Avanos and its stockholders."

CEO David Pacitti said the move to private ownership would accelerate the company's strategic development. "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 recognises the strength of our talented employees and the role they serve in addressing today's most important healthcare needs."

Avanos has described its recent trajectory as a deliberate shift towards becoming a more focused medical technology organisation, concentrating on clinical categories where it can deliver the greatest value. The company's 2026 Annual Meeting of Stockholders, originally scheduled for 21 April, has been postponed in connection with the transaction.

Explore the full details of the Avanos Medical acquisition, including deal terms, board commentary and what the transition to private ownership means for the business.