April 14 (Reuters) – Avanos Medical said on Tuesday it has agreed to be taken private by American Industrial Partners in an all-cash deal for an enterprise value of about $1.27 billion, as the private equity firm bets on Avanos’ nutrition and pain management offerings.
Shares of the Alpharetta, Georgia-based company were up over 67% in premarket trading.
Under the terms of the agreement, Avanos shareholders will receive $25 per share in cash, which implies a premium of about 72.1% to the stock’s last close.
The deal is expected to close in the second half of 2026.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Shailesh Kuber)
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