AVNS - Avanos agrees to acquire Toronto-based Diros Technology
2023-06-20 03:11:42 ET
-
Avanos Medical ( NYSE: AVNS ) notifies on Monday that it agrees to acquire Toronto-based Diros Technology Inc., a world leader in the development and commercialization of Radiofrequency RF devices for Pain Management and Neurosurgery.
-
The addition of Diros' unique tined-probe technology further differentiates Avanos portfolio and boosts Avanos' leadership position in RF technology by providing a full range of high-quality, differentiated pain management products.
-
Avanos will use both funds from its existing credit facility and available cash to finance the deal.
-
The company said, the new business will be immediately accretive to revenue growth, gross margins, operating margins and EPS.
-
The deal is expected to close in the third quarter of 2023, subject to customary closing conditions.
For further details see:
Avanos agrees to acquire Toronto-based Diros Technology