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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 has appointed Sudhakar Varshney as the new senior vice president of global supply chain & procurement, effective immediately. Varshney brings over 20 years of leadership experience in various sectors including medical devices and automotive, having previously served at Antylia Scientific and other notable companies. His role entails leading a team of over 2,500 employees to enhance the company’s supply chain operations amidst ongoing global challenges. CEO Joe Woody expressed confidence in Varshney's ability to drive essential process improvements for the company’s growth.
Avanos Medical, based in Alpharetta, Georgia, will present at the Stifel 2022 Healthcare Conference on November 15 at 3:35 p.m. ET. CEO Joe Woody and CFO Michael Greiner will lead the presentation. The conference will be accessible via a webcast on the Avanos Medical website's investors section, with an archive for later viewing. Avanos Medical focuses on developing innovative medical devices aimed at improving patient quality of life and reducing opioid use. The company operates in over 90 countries.
Avanos Medical reported third quarter 2022 financial results with net sales of $202 million, marking a 10% increase year-over-year. Gross margin improved to 54%, up from 49% in the prior year. The company achieved a net income of $16 million compared to a $35 million loss last year, and adjusted earnings per share rose to $0.38. Free cash flow reached $23 million. The company reaffirms its 2022 guidance, projecting net sales between $815 million and $835 million despite ongoing supply chain challenges.
Avanos Medical (NYSE: AVNS) will host a conference call on November 2, 2022, at 9 a.m. ET to discuss its third-quarter financial results and business highlights. A news release will precede the call, detailing the company's performance. The call will be led by CEO Joe Woody and CFO Michael Greiner. Interested parties can join by dialing 877-240-5772 within the U.S. The replay will be available following the event for one week. Avanos focuses on providing innovative medical solutions to improve patient recovery.
Avanos Medical (NYSE: AVNS) announced that CEO Joe Woody and CFO Michael Greiner will participate in a fireside chat during the Morgan Stanley Global Healthcare Conference on September 14, 2022, at around 1:30 p.m. ET. A webcast of their presentation will be available on the Investors section of Avanos Medical's website and will be archived there for future reference. Avanos Medical focuses on delivering innovative medical device solutions that enhance patients' quality of life.
Avanos Medical, Inc. (NYSE: AVNS) reported its Q2 2022 results, with net sales of $203 million, a 9% increase year-over-year. Gross margin improved significantly, reaching 57% compared to 46% a year ago. However, net income dropped to $11 million from $38 million in the prior year. The company generated free cash flow of $23 million, up from $10 million last year. Despite supply chain challenges, Avanos expects full-year sales between $815 million and $835 million, projecting adjusted diluted EPS between $1.45 and $1.65.
Avanos Medical, Inc. (NYSE: AVNS) will host a conference call on August 9, 2022, at 9 a.m. ET, to discuss its second-quarter financial results and business highlights. The company will release its financial results before the market opens on the same day. The call will be led by CEO Joe Woody and CFO Michael Greiner. Interested parties can join the call by dialing 877-240-5772 within the U.S. A replay will be available starting August 10 at noon ET. Avanos focuses on innovative medical devices aimed at improving recovery and reducing opioid use.
Avanos Medical, a medical technology company, announced that Michael Greiner, CFO, will participate in a fireside chat at the UBS 2022 Global Healthcare Conference on May 23 at 1:15 p.m. ET. The conference will be accessible via a webcast on Avanos' Investors section of their website, where it will also be archived. Avanos is dedicated to developing breakthrough medical device solutions and operates in over 90 countries, aiming to enhance patient recovery while minimizing opioid use.
Avanos Medical reported a 9% increase in net sales for Q1 2022, totaling $197 million compared to last year. Net income rose to $6 million from a $8 million loss, with adjusted earnings per share at $0.26. The recent acquisition of OrthogenRx contributed positively, and gross margins improved to 54% despite ongoing economic challenges. The company anticipates annual sales between $830 million and $850 million, with adjusted EPS projected at $1.55 to $1.75.
Avanos Medical, Inc. (NYSE: AVNS) will hold a conference call on May 4, 2022, at 9 a.m. ET to discuss its first-quarter 2022 financial results and business highlights. A news release will precede the call, detailing the results. The call will be hosted by CEO Joe Woody and CFO Michael Greiner. Interested parties can join the live call by dialing 877-240-5772 in the U.S. or access the webcast via the Avanos Medical website. A replay will be available later the same day.
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