Avanos Medical (NYSE:AVNS) announced today that it entered into a definitive agreement to sell its respiratory health business. The Alpharetta, Georgia-based medtech company agreed to sell the unit to SunMed Group Holdings, LLC. SunMed, headquartered in Grand Rapids, Michigan, manufactures and distributes consumable medical devices. Its product portfolio for anesthesia and respiratory care spans the […]
Avanos Medical
Avanos shares plummet on mixed-bag Q1 results
Avanos Medical this week posted first-quarter results that aligned with the earnings consensus on Wall Street but missed revenue estimates. Investors reacted by sending shares in AVNS down 15.81% to $24.38 apiece in afternoon trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up slightly. The […]
Avanos Medical has a serious recall of airway access device for young children
The FDA today issued a notice labeling a recall by Avanos Medical (NYSE:AVNS) as Class I, the most serious kind. Avanos’ recall regards its Ballard Access closed suction system for neonates and pediatrics. These affected devices feature the Y-manifold or elbow manifold. Avanos reported four injuries and one death related to the issue with the […]
Avanos Medical fills two new C-level posts
Avanos Medical (NYSE:AVNS) today announced appointments to two new C-level positions on its leadership team. The company’s present SVP CFO Michael Greiner will also fill a chief transformation officer role. In addition, Avanos promoted Kerr Holbrook to SVP and chief commercial officer. Alpharetta, Georgia–based Avanos Medical is a developer of medtech that provides everything from […]
Avanos Medical rises on mixed bag Q3
Avanos Medical (NYSE:AVNS) shares rose this morning on third-quarter results that beat the consensus forecast. Shares of AVNS ticked up 3.5% at $23.20 apiece. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — ticked up by 1%. The Alpharetta, Georgia-based pain management and chronic care company posted profits […]
Avanos Medical updates full-year revenue guidance on mixed-bag Q2 results
Avanos Medical (NYSE:AVNS) today posted second-quarter results that beat the earnings consensus on Wall Street and missed revenue estimates. The Alpharetta, Georgia-based company reported profits of $11.4 million, or 24¢ per share, on sales of $203 million for the three months ended June 30, for a bottom-line loss of 69.9% on sales growth of 8.91% compared […]
Avanos Medical recall of Cortrak 2 enteral access system is Class I
The FDA determined that Avanos Medical’s recall of some of its Cortrak 2 enteral access systems is Class I, the most serious kind. Alpharetta, Georgia-based Avanos Medical is recalling certain Cortrak 2 general access systems due to reports of injuries and patient deaths following nasoenteric or nasogastric tube misplacement. The recall includes all serial numbers […]
Avanos rises as Q1 earnings match Wall Street projections
Avanos Medical (NYSE:AVNS) shares ticked up today on first-quarter results that just about matched the consensus forecast. The Alpharetta, Georgia–based pain management and chronic care device company posted profits of $5.8 million, or 12¢ per share, on sales of $197.4 million for the three months ended March 31, 2022, for a bottom-line gain from losses […]
Avanos Medical ticks up as company posts Street-beating Q2, sets 2022 guidance
Avanos Medical (NYSE:AVNS) shares rose today on fourth-quarter results that came in ahead of the consensus forecast. The Alpharetta, Georgia-based company posted profits of $10 million, or 21¢ per share, on sales of $193.4 million for the three months ended Dec. 31, 2021, for a bottom-line gain out of the red on sales growth of 4.5%. […]
Avanos Medical to buy OrthogenRx for $160M
Avanos Medical today announced it entered into a definitive agreement to acquire OrthogenRx for $160 million. OrthogenRx makes viscosupplementation therapies to treat knee osteoarthritis pain, as well as commercial hyaluronic acid (HA) therapy products GenVisc 850 and TriVisc. Avanos will purchase the company for $130 million in cash at closing and an additional $30 million […]
