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04/2026

AVANOS MEDICAL acquired by AMERICAN INDUSTRIAL PARTNERS AIP

UNITED STATES Life Sciences / Medical Devices / Medical Consumables EV 1b - 4b USD

Context

American Industrial Partners has finalized a definitive agreement to acquire Avanos Medical in an all-cash transaction, a maneuver designed to fundamentally reinforce the target's competitive positioning in the specialized medical technology arena. The strategic rationale for this transaction centers on an "operational-transformation" play, merging the target's industry-leading technical operational depth in nutrition and pain therapies with the acquirer's extensive history of implementing transformative operating agendas. This structural alignment provides the organization with the institutional capital and private-market flexibility required to pursue a definitive expansion of its innovation roadmap without the pressures of public-market cyclicality.

AVANOS MEDICAL, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Healthcare & Pharma sector (15.3x).

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Target

Avanos Medical operates as a premier technology organization dedicated to the engineering and distribution of clinically superior medical device solutions. The entity’s business model is centered on a high-fidelity diagnostic and therapeutic framework, specializing in the Specialty Nutrition Systems (SNS) and Pain Management and Recovery (PM&R) segments. Its value proposition is anchored in technical operational depth, providing mission-critical solutions such as enteral feeding tubes, neonatal feeding systems, and non-opioid surgical pain management therapies. Strategically, the firm focuses on the deployment of industrialized safety standards to reduce opioid dependency and facilitate the transition of patients from hospital to home care. By maintaining a specialized focus on technical reliability and life-sustaining nutrition delivery, the organization ensures a vital role in the structural advancement of post-operative and chronic patient care.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2025
2024

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REFERENCES

Valuation range: EV 1b - 4b USD

Revenue range: 450M - 900M USD

EBITDA range: 50M - 100M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of AVANOS MEDICAL by AMERICAN INDUSTRIAL PARTNERS AIP are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: avanos medical

Acquirer: american industrial partners aip