AVNS - Avanos Medical climbs 7% with the sale of Respiratory Health business to SunMed
2023-06-08 07:15:17 ET
- Avanos Medical ( NYSE: AVNS ) to sell its Respiratory Health business to SunMed Group.
- SunMed is a North American manufacturer and distributor of consumable medical devices for anesthesia and respiratory care.
- The divestiture of the RH business represents a key component of Avanos' ongoing three-year transformation process, and accelerates the company's efforts to focus its portfolio.
- The net proceeds will enhance Avanos' balance sheet flexibility and provide additional capacity for Avanos to deploy capital in a focused and disciplined approach to M&A in the company's core categories and markets.
- Transaction expected to close in late 2023.
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Avanos Medical climbs 7% with the sale of Respiratory Health business to SunMed