Avanos Medical, a leading medical device company, has announced that it will be selling its respiratory health business to SunMed, a subsidiary of the Taiwanese company, Flexium Interconnect. The deal is expected to close in the first quarter of 2022, subject to regulatory approvals and customary closing conditions.
The respiratory health business of Avanos Medical includes a range of products such as airway management devices, respiratory diagnostics, and ventilation equipment. These products are used in hospitals, clinics, and home care settings to treat patients with respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea.
SunMed, on the other hand, is a global leader in the design and manufacture of medical devices for respiratory care. The company’s product portfolio includes oxygen therapy equipment, nebulizers, and suction devices. With the acquisition of Avanos Medical’s respiratory health business, SunMed will be able to expand its product offerings and strengthen its position in the respiratory care market.
The acquisition is also expected to benefit customers of both companies. Avanos Medical’s customers will have access to SunMed’s broader range of respiratory care products, while SunMed’s customers will benefit from Avanos Medical’s expertise in airway management and ventilation.
In a statement announcing the deal, Joe Woody, CEO of Avanos Medical, said, “We are pleased to have found a strategic buyer for our respiratory health business that is committed to investing in and growing this important product line. This transaction allows us to focus our resources on our core businesses and pursue growth opportunities that align with our strategic priorities.”
The sale of the respiratory health business is part of Avanos Medical’s ongoing efforts to streamline its operations and focus on its core businesses. The company recently divested its surgical and infection prevention business to Medline Industries for $167.5 million.
Overall, the acquisition of Avanos Medical’s respiratory health business by SunMed is expected to be a win-win for both companies and their customers. It will create a stronger player in the respiratory care market and provide patients with access to a broader range of high-quality products.
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