Avanos Medical, Inc. and American Industrial Partners Receive Required Regulatory Approvals for Pending Merger

Avanos Medical, Inc. and American Industrial Partners have announced the receipt of all necessary regulatory approvals to proceed with the acquisition of Avanos by affiliates of investment funds managed by AIP. The transaction is anticipated to close by July 27, 2026, pending stockholder approval and the fulfillment of customary closing conditions.

A special meeting for Avanos stockholders to vote on the proposed acquisition is scheduled for July 22, 2026, at 9:00 a.m. Eastern time, at the offices of Alston & Bird LLP in Atlanta, Georgia.

David C. Pacitti, Chief Executive Officer of Avanos, commented, "Securing all required regulatory approvals is a significant milestone and the result of strong collaboration between our two organizations. The receipt of these approvals brings us another step closer to completing the transaction with AIP and embarking on the next phase of innovation and growth at Avanos."

Joel Rotroff, a Partner at AIP, also noted, "The receipt of regulatory approvals marks an important step towards completing this transaction. AIP is excited about the opportunity to partner with Avanos leadership and support the company's next phase of growth, innovation and commercial execution to deliver superior medical device solutions."

Avanos Medical is dedicated to providing clinically superior medical device solutions, with a focus on addressing critical healthcare needs, such as supporting patient nutrition and reducing opioid use. American Industrial Partners manages approximately $17.8 billion in assets and specializes in investing in engineered products businesses while collaborating with management teams to enhance long-term value.