Avanos agrees to acquire Diros Technology

Avanos Medical announced it has entered into a definitive agreement to acquire Diros Technology, a manufacturer of radiofrequency, or RF, products used to treat chronic pain conditions. “The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions. Avanos will finance the acquisition through a combination of funds from its existing credit facility and available cash. The company estimates that the new business will be immediately accretive to revenue growth, gross margins, operating margins and EPS. The company plans to share additional details about the transaction during its Investor Day event on June 20,” Avanos stated. “The acquisition of Diros Technology strengthens Avanos’ leadership position in RF technology by providing a full range of high-quality, differentiated pain management products. We expect our enhanced portfolio will offer significant opportunities to deliver non-opioid-based, minimally invasive treatments to patients throughout the world. With this comprehensive suite of RF offerings, we believe Avanos is poised for future growth across all major sites of patient care: hospitals, ambulatory surgery centers and physician’s offices,” added Avanos CEO Joe Woody.