Avanos Medical (NYSE:VNS) announced on Tuesday that it has entered into a definitive agreement to be acquired by affiliates of American Industrial Partners (AIP) for an enterprise value of approximately $1.272 billion.
The deal will transition the medical technology firm into a private company, marking a significant exit for shareholders at a substantial premium.
Under the terms of the agreement, Avanos stockholders will receive $25 per share in cash.
This offer represents a 72.1% premium over the company’s closing stock price on April 13, 2026, and an approximately 82.8% premium to the 30-day volume-weighted average price (VWAP).
The transaction has received the unanimous approval of the Avanos board of directors.
Unlike many large-scale acquisitions, this deal is not subject to a financing condition, as AIP has secured the necessary capital to complete the purchase.
Avanos, which specializes in medical device solutions for digestive health and non-opioid pain management, has been a key player in the shift toward minimally invasive clinical therapies.
The partnership with AIP, an operationally oriented private equity firm, is expected to provide the company with the flexibility to pursue long-term strategic growth outside the scrutiny of the public markets.
The acquisition is expected to close in the second half of 2026, pending customary closing conditions, including regulatory approvals and the consent of Avanos stockholders.
Upon completion of the transaction, Avanos common stock will no longer be listed on the New York Stock Exchange.