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- Avanos Medical
Avanos Medical Acquisition, Valuation & Financials
Avanos Medical was acquired by American Industrial Partners for $1.3B in April 2026, a 7.0x multiple on $181M of revenue.
Avanos Medical acquisition price
$1.3B
Acquired by American Industrial Partners · Apr 2026
Avanos Medical revenue at acquisition
$181M
Last twelve months · Apr 2026
Avanos Medical revenue multiple at acquisition
7.0x
EV/Revenue · Apr 2026
Avanos Medical market cap before the deal
$1.2B
STU: 8HH · Jul 2026
About Avanos Medical
Avanos Medical Inc is a medical technology company engaged in the development and commercialization of products for pain management and patient care. The company has two reportable segments: Specialty Nutrition Systems and Pain Management and Recovery. The Specialty Nutrition Systems segment provides enteral feeding and neonatal products. The Pain Management and Recovery segment offers surgical pain and recovery products, including pain pumps and radiofrequency ablation solutions for the treatment of chronic pain.
Founded
2014
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Revenue
$181M (Apr 2026)
Valuation
$1.3B (acquired Apr 2026)
Avanos Medical Acquisition
Avanos Medical was acquired by American Industrial Partners for $1.3B on 13 April 2026.
The acquisition price implies a 7.0x revenue multiple on $181M of revenue.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 13 Apr 2026 | PE buyout | $1.3B | 7.0x |
Avanos Medical as a Public Company
Avanos Medical traded as STU: 8HH before it was taken private. Its acquisition was announced in April 2026. July 2026 is its last month on record as a listed company, with a market cap of $1.2B and an enterprise value of $1.2B.
Over the 4 years before that, its market cap fell from $1.3B in July 2022 to $1.2B.
Avanos Medical market cap while listed
Avanos Medical EV/Revenue (LTM) while listed
| As of | Market cap | Revenue (LTM) | EBITDA (LTM) | EBITDA margin | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| Jul 2026 | $1.2B | - | - | - | - | - |
| Jul 2025 | $518M | $679M | $100M | 15% | 0.8x | 5.6x |
| Jul 2024 | $1.1B | $686M | $119M | 17% | 1.8x | 10.3x |
| Jul 2023 | $1.1B | $792M | $134M | 17% | 1.6x | 9.7x |
| Jul 2022 | $1.3B | $801M | $118M | 15% | 1.9x | 13.0x |
Market cap, enterprise value and last-twelve-month figures are month-end values, up to the last month Avanos Medical traded.
Acquisitions by Avanos Medical
Avanos Medical has acquired 5 companies to date.
Last acquisition by Avanos Medical was on September 15th 2025. Avanos Medical acquired Nexus Medical for undisclosed valuation.
Latest Acquisitions by Avanos Medical
| Description | Nexus Medical is a Salt Lake City-headquartered manufacturer of needle-free valves and IV connectors for infusion therapy. The ClearLine and SwabCap products reduce catheter-related bloodstream infections in hospitals. Founded in 2003, Nexus Medical supplies systems to Cleveland Clinic and Mayo Clinic compliant with ISO 80369 standards. | Diros Technology is a Tel Aviv-headquartered medical device company specializing in radiofrequency ablation systems for chronic pain management and neurosurgery. The firm develops the PainBox RF generator alongside specialized probes such as the RF Trident multi-needle electrode and various RF cannulae designed for precise denervation. These tools target conditions including cervical radiculopathy, thoracic pain, lumbar facet joint pain, sacroiliac joint dysfunction, and trigeminal neuralgia. Established in 2002, Diros Technology serves interventional pain specialists and neurosurgeons worldwide with CE-marked and FDA-cleared products emphasizing safety features like impedance monitoring and lesion visualization. | OrthogenRx is a Pennsylvania-based commercial-stage company marketing generic orthopedic devices for musculoskeletal conditions. Through 510(k) clearances, it supplies hip, knee, and extremity implants identical to predicate devices but at reduced costs. Exclusive licenses enable U.S. distribution of ex-U.S. approved products like fracture fixation plates and screws. | - | |
| HQ Country | |||||
| HQ City | Kansas City, KS | Toronto | Philadelphia, PA | Alpharetta, GA | |
| Deal Date | 15 Sep 2025 | 19 Jun 2023 | 13 Dec 2021 | 5 Jun 2018 | |
| Valuation | undisclosed | $60M | $160M | $65M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Avanos Medical acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by Avanos Medical
Avanos Medical has invested in 1 company to date.
Latest investment by Avanos Medical was on November 15th 2024. Avanos Medical invested in Synaptrix in their $10M Series A round.
Latest Investments by Avanos Medical
| Description | Synaptrix is a healthcare innovator providing NOVABLOC cryoanalgesia technology for drug-free postoperative pain management. The system applies targeted nerve freezing during surgeries to deliver pain relief lasting three to six months, used in knee replacements, shoulder repairs, and thoracic procedures. |
| HQ Country | |
| HQ City | Alpharetta, GA |
| Deal Date | 15 Nov 2024 |
| Round | Series A |
| Raised | $10M |
| Investors | Portal Innovations; Rex Health Ventures; Hatteras Venture Partners |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Avanos Medical investments and their VC round multiples. Start Free Trial | |
Avanos Medical Competitors
Avanos Medical competitors include listed companies like Vitrolife, MicroPort EP, SonoScape and Medartis, and private ones like EverlyWell and MindMaze.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $349M | ($448M) | $1.3B | 3.8x | ||
| Publicly listed | $69M | $13M | $1.3B | 13.7x | ||
| Publicly listed | $345M | $35M | $1.3B | 3.0x | ||
| Publicly listed | $328M | $54M | $1.3B | 4.0x | ||
| Private | $100M | - | $1.3B | 13.0x | ||
| Private | $8M | - | $1.5B | 187.5x |
Avanos Medical Public Comps
Avanos Medical is no longer listed, but its public comps include Vitrolife, Arcs Co, MicroPort EP, SonoScape, Weigao Group, Medartis, Integra Lifesciences, Alpha Tau Medical, VCANBIO and Beta Bionics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $349M | ($448M) | 3.9x | 3.8x | (3.0x) | 12.1x | |||
| $4B | $183M | 0.2x | 0.2x | 4.6x | 4.7x | |||
| $69M | $13M | 15.5x | 13.7x | 85.8x | 78.7x | |||
| $345M | $35M | 3.3x | 3.0x | 32.3x | 26.0x | |||
| $227M | $56M | 4.8x | 5.0x | 19.6x | 14.1x | |||
| $328M | $54M | 4.7x | 4.0x | 28.5x | 22.3x | |||
| $1.6B | ($344M) | 1.8x | 1.8x | (8.7x) | 9.0x | |||
| - | ($45M) | - | 2428.6x | (28.1x) | (24.7x) | |||
This data is available for Pro users. Sign up to see all Avanos Medical competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Avanos Medical
| When was Avanos Medical founded? | Avanos Medical was founded in 2014. |
| Where is Avanos Medical headquartered? | Avanos Medical is headquartered in Alpharetta, GA, United States. |
| Is Avanos Medical publicly listed? | No, Avanos Medical was acquired by American Industrial Partners in April 2026. |
| Who acquired Avanos Medical? | Avanos Medical was acquired by American Industrial Partners in April 2026. |
| How much was Avanos Medical acquired for? | Avanos Medical was acquired for $1.3B in April 2026, a 7.0x revenue multiple. |
| Which companies are comparable to Avanos Medical? | Companies comparable to Avanos Medical include Vitrolife, MicroPort EP, SonoScape, Medartis, EverlyWell and MindMaze. |
| What was Avanos Medical's market cap before the acquisition? | Avanos Medical had a market cap of $1.2B in July 2026, its last month on record as a listed company. |
| How many companies has Avanos Medical acquired? | Avanos Medical has acquired 5 companies, including Nexus Medical, Diros Technology, OrthogenRx, Game Ready and CORPAK MedSystems. |
| What was the largest acquisition by Avanos Medical? | The $174M acquisition of CORPAK MedSystems in April 2016 is the largest acquisition Avanos Medical has made to date. |
| How many companies has Avanos Medical invested in? | Avanos Medical has invested in 1 company, including Synaptrix. |
| What was Avanos Medical's last investment? | In November 2024, Avanos Medical invested in Synaptrix's $10M Series A alongside Portal Innovations, Rex Health Ventures and Hatteras Venture Partners. |
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