Welcome to our dedicated page for Avanos Medical news (Ticker: AVNS), a resource for investors and traders seeking the latest updates and insights on Avanos Medical stock.
Avanos Medical, Inc. (NYSE: AVNS) is a leading medical technology company based in Alpharetta, Georgia. Specializing in breakthrough solutions, Avanos focuses on helping patients recover from surgery and move back to their normal lives while minimizing opioid use.
The company offers innovative medical devices and services in over 90 countries, addressing critical healthcare needs. Avanos' key areas of operation include Digestive Health and Pain Management and Recovery. Recently, they've integrated their Chronic Care and Pain Management franchises into a single commercial entity. This restructuring has enabled Avanos to enhance its focus on digestive health and non-opioid pain relief solutions.
Avanos made headlines with its acquisition of Diros Technology Inc., a leader in radiofrequency (RF) ablation technology for chronic pain management. Diros' RF Trident™ technology, known for delivering precise, minimally invasive pain treatment, complements Avanos' COOLIEF* Cooled Radiofrequency offerings. This acquisition is expected to broaden Avanos' market reach and enhance its portfolio of non-opioid pain management products.
In 2023, Avanos reported steady financial growth, with notable performance in its Digestive Health sector. Despite a slight overall sales decline, the company's operational focus and strategic acquisitions have positioned it well for future growth. Avanos continues its three-year transformation initiative, emphasizing optimized commercial operations, product portfolio transformation, cost management, and strategic M&A activity.
Moreover, Avanos recently aligned with the UK's National Institute for Health and Care Excellence (NICE) guidelines, supporting the use of RF ablation for osteoarthritic knee pain—an endorsement that could spur similar guidelines globally.
However, Avanos faced challenges, including a voluntary recall of certain gastric-jejunal feeding tube kits due to sterility concerns related to pre-filled syringes. Despite these hurdles, the company remains resolute in its commitment to delivering superior healthcare solutions.
For more information, visit www.avanos.com and follow Avanos Medical on Twitter, LinkedIn, and Facebook.
Avanos Medical (NYSE: AVNS) will host a conference call on May 3, 2023, at 9 a.m. ET, to discuss its financial results and business updates for the first quarter of 2023. A news release detailing these results will be issued before the market opens on the same day. The call will be led by Joe Woody, CEO, and Michael Greiner, CFO. Investors can join the conference call by dialing 877-240-5772 in the United States. A simultaneous webcast and presentation will also be available on the Avanos Medical website. A replay will be accessible post-call for one week. Headquartered in Alpharetta, Georgia, Avanos Medical focuses on delivering medical device solutions that enhance patient recovery.
Avanos Medical, Inc. (NYSE: AVNS) announced that Michael Greiner, CFO and Chief Transformation Officer, will participate in a fireside chat at the 2023 virtual KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 22 at 9:45 a.m. ET. A webcast of the presentation will be available in the Investors section on Avanos' website and will be archived for later access. Avanos focuses on clinically superior medical devices, providing vital nutrition solutions and reducing opioid use during patient recovery. The company is headquartered in Alpharetta, Georgia, and holds leading market positions across its product categories.
Avanos Medical, Inc. (NYSE: AVNS) announced the appointment of Dr. Lisa Egbuonu-Davis as an independent member of its board of directors, effective March 6, 2023. Egbuonu-Davis, who previously held senior roles at Sanofi and co-founded ROI Squared, brings extensive experience in healthcare strategy and operations. Avanos board chair Gary Blackford expressed optimism about her contributions to the company’s mission of providing innovative healthcare solutions, particularly in reducing opioid use. With Egbuonu-Davis's addition, the board now has six directors, including five independents and two women.
Avanos Medical, Inc. (NYSE: AVNS) reported strong fourth quarter and full-year 2022 results, with net sales of $217 million for Q4, up 12% year-over-year, and full-year net sales reaching $820 million, a 10% increase. Diluted EPS for Q4 was $0.36, compared to $0.24 a year earlier, while adjusted diluted EPS rose to $0.60 from $0.50. The company reported a free cash flow of $29 million in Q4 and $72 million for the year. Avanos is implementing a three-year transformation plan, targeting cost savings of $45-$55 million, amid ongoing developments in its product portfolio and operational efficiencies.
Avanos Medical, Inc. (NYSE: AVNS) will host a conference call on February 21 at 9 a.m. ET to discuss its financial results and business highlights for the fourth quarter and full year 2022. A news release detailing the results will be issued before market opens that day. The call will feature CEO Joe Woody and CFO Michael Greiner. Participants can join via phone or through a live webcast available on the company's investor website. A replay will be available beginning February 21 at noon ET for one week.
Avanos Medical (NYSE: AVNS) has announced the appointment of Michael Greiner as Chief Transformation Officer, alongside his role as CFO, and Kerr Holbrook as Senior Vice President and Chief Commercial Officer. This leadership shift aims to enhance the company's strategic focus and optimize financial performance over the next three years. The transformation plan centers on four priorities: optimizing the commercial organization, transforming the product portfolio, implementing cost management initiatives, and disciplined capital deployment. The new structure aims to accelerate sales and improve market impact.
Avanos Medical (NYSE: AVNS) will be represented by CEO Joe Woody at the 41st Annual J.P. Morgan Healthcare Conference in San Francisco on January 11, 2023, at approximately 4:30 p.m., PST. A webcast of the presentation will be accessible on the Investors section of the Avanos Medical website, and it will be archived for future viewing. Avanos is dedicated to advancing healthcare needs by providing innovative medical device solutions aimed at enhancing patients' quality of life.
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