Brief: Avanos Medical To Acquire OrthogenRx

Avanos Medical

13/12/2021 21:14

Dec 13 (Reuters) - Avanos Medical Inc  AVNS.N :
    * AVANOS MEDICAL, INC. ANNOUNCES AGREEMENT TO ACQUIRE
ORTHOGENRX,
INC.
    * AVANOS MEDICAL INC - DEAL TO ACQUIRE ORTHOGENRX FOR $160
MILLION
    * AVANOS MEDICAL INC - PURCHASE PRICE CONSISTS OF $130
MILLION IN
CASH AT CLOSING PLUS AN ADDITIONAL $30 MILLION IN CONTINGENT
CASH CONSIDERATION
    * AVANOS MEDICAL INC - ESTIMATES THAT NEW BUSINESS WILL
CONTRIBUTE
APPROXIMATELY $65 MILLION IN 2022 REVENUE
    * AVANOS MEDICAL INC - ESTIMATES THAT NEW BUSINESS WILL BE
IMMEDIATELY ACCRETIVE TO GROSS AND OPERATING MARGINS
    * AVANOS MEDICAL INC - WILL FINANCE DEAL WITH ORTHOGENRX
THROUGH A
COMBINATION OF FUNDS FROM ITS EXISTING CREDIT FACILITY AND
AVAILABLE CASH

Source text for Eikon:  ID:nPn3J9ytja 
Further company coverage:  AVNS.N 

 ((Reuters.Briefs@thomsonreuters.com;))