Strengthens portfolio with market-defining BALLARD*, MICROCUFF* and endOclear® brands
Enhances position as premier, completely dedicated consumable breathing products company
Provides expanded North American manufacturing footprint and innovation expertise
GRAND RAPIDS, MI – June 8, 2023 – SunMed, a leading North American manufacturer and distributor of consumable medical devices for anesthesia and respiratory care, today announced it has entered into a definitive agreement with Avanos Medical, Inc. (NYSE: AVNS) (“Avanos”), under which SunMed will acquire Avanos’ respiratory health business, including the BALLARD*, MICROCUFF* and endOclear® product lines. This combination further expands the breadth of SunMed’s leading product offering, providing customers with a one-stop source for the most trusted and highest-quality brands in anesthesia and respiratory care, which support the best outcomes for patients.
Through the transaction, SunMed is adding market leading brands to its expansive and growing portfolio, providing healthcare providers and patients with even more options. The BALLARD*, MICROCUFF* and endOclear® brands include closed suction catheters, endotracheal tubes and oral care solutions, whose products have achieved strong trust, recognition and respect among healthcare providers around the world for their high quality and advanced technology. Included in the transaction, in addition to expanding its product lines with these respiratory consumables, SunMed is acquiring two Avanos manufacturing facilities in Mexico and R&D expertise that support these brands.
“Adding these complementary brands into our growing portfolio solidifies SunMed’s leadership as the premier manufacturer of the anesthesia and respiratory consumables that define product excellence and serve patients across the continuum of care,” said Hank Struik, CEO of SunMed. “These products are the standard bearers of closed suction and endotracheal consumables and we deeply admire the clinical results that these exceptional products provide for patients in critical care and the trust they have built with practitioners. Leveraging the expertise behind these successful brands, this transaction also supports our ability to drive growth and innovation, not just for the respiratory brands we are acquiring, but for our comprehensive breathing care platform. Combined with our expansive anesthesia and respiratory consumables business, we are further strengthening SunMed’s ability to serve more clinicians around the world so they can provide the best patient outcomes.”
“Divesting our Respiratory Health business is a key element of Avanos’ ongoing three-year transformation process,” said Joe Woody, Avanos CEO. “We’re confident that SunMed is an excellent fit for our RH brands – including BALLARD*, MICROCUFF* and endOclear® – and that these products will be strong additions to the company’s robust portfolio.”
The proposed transaction, which is subject to customary closing conditions, is expected to be completed by late 2023.
About SunMed
SunMed, headquartered in Grand Rapids, Michigan with manufacturing and distribution sites in the United States, Mexico, China and Europe, is a leading medical device manufacturer, offering one of the most comprehensive portfolios of consumable anesthesia and respiratory care products. SunMed’s product portfolio spans the continuum of care from first responders to hospitals and home care, with safety, patient comfort and clinical performance in mind. SunMed’s comprehensive portfolio of trusted anesthesia products and respiratory care include premier brands such as Salter Labs®, Ethox Medical™, Ventlab™, Westmed™, Airlife™ and Vital Signs™. Currently, SunMed has over 1 million square feet of manufacturing space, providing comprehensive expertise in all plastics materials and conversion—supported by a world-class Quality Management System. Frazier Healthcare Partners, a leading healthcare investment firm, acquired a majority ownership stake in SunMed in 2021.
About Avanos Medical, Inc.
Avanos Medical, Inc. (NYSE: AVNS) is a medical technology company focused on delivering clinically superior medical device solutions that will help patients get back to the things that matter. Headquartered in Alpharetta, Georgia, we are committed to addressing some of today’s most important healthcare needs, including providing a vital lifeline for nutrition to patients from hospital to home, and reducing the use of opioids while helping patients move from surgery to recovery. We develop, manufacture and market our recognized brands globally and hold leading market positions in multiple categories across our portfolio. For more information, visit Avanos.com and follow Avanos Medical on Twitter (@AvanosMedical), LinkedIn and Facebook.
Contacts
SunMed
Media
FGS Global
sunmed@fgsglobal.com
###