Avanos Medical announces agreement to acquire Diros Technology

Avanos Medical announced it has entered into a definitive agreement to acquire Diros Technology, a manufacturer of innovative radiofrequency products used to treat chronic pain conditions. The addition of Diros’ unique RF Trident technology is expected to further enhance Avanos’ pain management treatment options and complement its premium COOLIEF Cooled Radiofrequency product offering. 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.