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    Avanos Medical Inc (AVNS)

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    Avanos Medical, Inc. is a medical technology company headquartered in Alpharetta, Georgia, specializing in innovative medical device solutions that improve patient outcomes and reduce healthcare costs. The company focuses on addressing critical healthcare needs, such as providing nutritional support and offering non-opioid pain management solutions. Avanos markets its products globally and holds leading positions in multiple categories within its portfolio.

    1. Digestive Health - Provides nutritional support products, including MIC-KEY enteral feeding tubes, Corpak patient feeding solutions, and NeoMed neonatal and pediatric feeding solutions.
    2. Pain Management and Recovery - Offers non-opioid pain management solutions, including:
      • Surgical Pain and Recovery Products - Includes ON-Q and ambIT surgical pain pumps, and Game Ready cold and compression therapy systems.
      • Interventional Pain Solutions - Features COOLIEF pain therapy, OrthogenRx knee osteoarthritis hyaluronic acid (HA) injections, and Trident radiofrequency ablation products for chronic pain relief.
    NamePositionExternal RolesShort Bio

    Kerr W. Holbrook

    Executive

    SVP and Chief Commercial Officer

    None

    Joined AVNS in 2019 as SVP and GM, Chronic Care. Appointed Chief Commercial Officer in 2023. Over 30 years of experience in medical devices and pharmaceuticals.

    Michael C. Greiner

    Executive

    Interim Chief Executive Officer

    None

    Joined AVNS in 2020 as CFO, later became Chief Transformation Officer in 2023, and Interim CEO in 2024. Extensive experience in corporate finance and M&A.

    Mojirade James

    Executive

    SVP, General Counsel, and Secretary

    None

    Appointed in 2021. Previously held senior legal roles at Tmunity Therapeutics, Iroko Pharmaceuticals, Wyeth, and Pfizer. Extensive legal expertise in healthcare.

    Sigfrido Delgado

    Executive

    SVP, Integrated Supply Chain

    None

    Joined AVNS in 2024. Previously held senior roles at Jabil Healthcare and Johnson & Johnson. Expertise in supply chain and operations.

    Warren J. Machan

    Executive

    Interim Chief Financial Officer

    None

    Joined AVNS in 2014, previously served as SVP - Business Strategy and Interim CFO in 2019. Reappointed as Interim CFO in 2024 under a consulting agreement.

    Dr. Julie Shimer

    Board

    Independent Director

    Advisor at CPLANE Networks; Board Member at Derivation, LLC

    Director at AVNS since 2014. Former CEO with over 30 years of experience in product development and governance.

    Dr. Lisa Egbuonu-Davis

    Board

    Independent Director

    Trustee at Johns Hopkins Medicine; Director at Omega Healthcare Investors, Inc.; Director at Phreesia, Inc.

    Appointed to AVNS board in 2023. Extensive healthcare and governance experience. Former VP at Sanofi and Pfizer.

    Gary D. Blackford

    Board

    Chairman of the Board

    Director at ReShape Lifesciences, Inc.; Director at Lifespace Communities, Inc.

    Chairman of AVNS since 2020. Former CEO of Universal Hospital Services. Extensive governance and healthcare experience.

    Indrani Franchini

    Board

    Independent Director

    None

    Appointed to AVNS board in 2024. Former Chief Legal Officer at Alnylam Pharmaceuticals and Alexion Pharmaceuticals. Extensive legal and compliance expertise.

    Patrick J. O’Leary

    Board

    Independent Director

    Chairman at SPX Technologies Inc.

    Director at AVNS since 2014. Former CFO of SPX Technologies. Expertise in finance, governance, and international business.

    1. Given the significant decline in your HA portfolio and its impact on margins, can you elaborate on your strategic plans for this business and how you intend to mitigate its negative effects on overall profitability?

    2. You mentioned a pause in margin improvement for 2025 due to macroeconomic factors and the HA business decline. What specific actions are you taking to reignite margin expansion in 2026 and beyond?

    3. With the impending tariffs and currency headwinds, how confident are you in your ability to navigate these challenges, and what contingency plans are in place if the macroeconomic environment worsens?

    4. Could you provide more details on your M&A strategy within the Specialty Nutrition Systems segment, and how soon do you expect these acquisitions to contribute meaningfully to growth and returns?

    5. You have guided to mid-single-digit growth in the Specialty Nutrition Systems segment but acknowledged that ENFit adoption is in the late stages. What are the key drivers that will sustain this growth, and how reliant are you on new product launches to achieve it?

    Program DetailsProgram 1Program 2Program 3
    Approval DateMay 16, 2022 July 28, 2023 November 1, 2024
    End Date/DurationOne year One year One year
    Total additional amount$25.0 million $25.0 million $25.0 million
    Remaining authorization amount$0 $0 $25.0 million
    DetailsEntire amount repurchased by Q3 2022 Entire amount repurchased by Q2 2024 Newly approved, aims to repurchase undervalued shares

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    Competes in both Digestive Health and Pain Management and Recovery segments, offering alternative treatments and innovations in products and technologies.

    Cook Medical

    Competes in the Digestive Health segment, providing alternative clinical practices and products.

    Applied Medical Technology, Inc.

    Competes in the Digestive Health segment, focusing on alternative treatments and innovations.

    Competes in the Digestive Health segment, offering alternative clinical practices and products.

    Competes in the Pain Management and Recovery segment, providing alternative pain management solutions.

    Competes in the Pain Management and Recovery segment, offering innovative pain management technologies.

    Competes in the Pain Management and Recovery segment, focusing on alternative pain management solutions.

    Pajunk Medical Systems

    Competes in the Pain Management and Recovery segment, providing alternative clinical practices and products.

    Nice Recovery Systems

    Competes in the Pain Management and Recovery segment, offering recovery-focused solutions.

    Competes in the Pain Management and Recovery segment, focusing on alternative pain management solutions.

    CustomerRelationshipSegmentDetails

    McKesson

    Wholesale distributor of AVNS medical devices

    All

    Sales represented 18% of consolidated net sales in 2024 , 13% in 2023 , 12% in 2022.

    Medline

    Wholesale distributor of AVNS medical devices

    All

    Sales represented 17% of consolidated net sales in 2024 , 15% in 2023 , 12% in 2022.

    Owens & Minor

    Wholesale distributor of AVNS medical devices

    All

    Sales represented 6% of consolidated net sales in 2023 , 5% in 2022.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Diros Technology Inc.

    2024

    The acquisition was closed on July 24, 2023, for a total purchase price of $53.0 million (with $2.5 million paid upfront, $50.5 million at closing, and up to an additional $7.0 million in contingent cash consideration, funded by a Revolving Credit Facility) that added innovative radiofrequency ablation (RFA) products to enhance the company’s Pain Management and Recovery portfolio while adding significant intangible assets such as goodwill, trademarks, and customer relationships.

    OrthogenRx, Inc.

    2022

    Completed on January 20, 2022, this deal involved an initial cash payment of $130 million with up to an extra $30 million in contingent consideration, funded through available cash and borrowings; it strategically expanded Avanos Medical’s chronic pain portfolio by acquiring advanced viscosupplementation therapies for knee osteoarthritis along with notable intangible assets and goodwill, with contingent thresholds based on future net sales.

    Recent press releases and 8-K filings for AVNS.

    Avanos Medical Announces Management Changes and Severance Details
    AVNS
    Management Change
    Executive Compensation
    • Warren Machan’s role change: The Company amended its Consulting Agreement effective April 14, 2025, transitioning Machan from Interim CFO to a consultant role, with his engagement set to terminate on April 30, 2025 and compensation of $60,000 per month while waiving his Second Bonus.
    • Michael Greiner’s departure: On April 18, 2025, Greiner announced his exit as Interim CEO after not being offered a comparable role, triggering a severance package of $2,100,000, prorated bonus, 6-month COBRA premium coverage, and a $50,000 consulting fee during his one-month consultancy, along with immediate vesting of his special equity awards.
    6 days ago
    Avanos Medical Appoints New CEO David Pacitti
    AVNS
    CEO Change
    Management Change
    • David Pacitti has been named chief executive officer for Avanos Medical, effective April 14, 2025.
    • Pacitti brings extensive leadership experience from roles at Siemens Healthineers and Abbott Vascular, which positions him to drive strategic growth at Avanos.
    Mar 17, 2025, 11:30 AM
    Avanos Medical Appoints New CEO, David Pacitti
    AVNS
    CEO Change
    Management Change
    Hiring
    • Appointment Announcement: Avanos Medical, Inc. has appointed David Pacitti as its new Chief Executive Officer, effective April 14, 2025.
    • Extensive Healthcare Experience: Mr. Pacitti brings significant experience from his role as President and Head of the Americas at Siemens Healthineers, along with previous leadership roles at Abbott Vascular, positioning him to drive strategic growth.
    Mar 17, 2025, 12:00 AM