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 medical technology company headquartered in Alpharetta, Georgia, with a portfolio focused on nutrition support and opioid-sparing pain management. This news page aggregates company-issued updates and market-moving announcements so readers can follow how Avanos executes its strategy across its Specialty Nutrition Systems (SNS) and Pain Management & Recovery (PM&R) segments.
Recent news releases highlight financial results, segment performance and portfolio changes. Avanos regularly reports quarterly results, detailing net sales, operating income and segment trends for SNS and PM&R, along with non-GAAP measures such as adjusted operating income, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA and free cash flow. These earnings updates often discuss demand in life-sustaining enteral feeding and neonate solutions, momentum in radiofrequency ablation (RFA) solutions and changes in surgical pain and recovery product volumes.
News coverage also includes strategic transactions and partnerships. Avanos has announced the divestiture of its Hyaluronic Acid product line, including TriVisc and GenVisc 850, to Channel-Markers Medical, and an agreement for WRS Group to acquire its US Game Ready orthopedic rental business while Avanos continues to manufacture and supply Game Ready systems and accessories under a long-term agreement. On the acquisition side, Avanos has reported the purchase of Nexus Medical, adding TKO anti-reflux needleless connector technology to its Specialty Nutrition Systems business.
In addition, Avanos issues updates on leadership changes, organizational restructuring and investor events, such as webcasts of earnings conference calls and presentations at healthcare conferences. Investors and observers can use this page to review how Avanos communicates its transformation progress, portfolio focus and financial performance over time.
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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.