Avanos Medical has signed a definitive agreement to acquire Canadian company Diros Technology for an undisclosed sum.
Diros is engaged in the manufacture of radio frequency (RF) products used to treat chronic pain conditions.
The Company markets its various products, including RF generators, cannulas and tine probe technology, under the Trident brand.
To treat chronic pain, Diros products use minimally invasive probes that heat nerve tissue near the probe tip to deliver RF energy. This helps disable the nerve’s potential to transmit pain signals.
Diros’ RF-Trident technology complements Avanos’ COOLIEF-cooled radio frequency product offering and further expands the treatment options for pain management.
Joe Woody, CEO of Avanos, said, “The acquisition of Diros Technology strengthens Avanos’ leadership position in RF technology by providing a full range of high quality, differentiated pain management products.”
“We anticipate that our expanded portfolio will provide significant opportunities to bring non-opioid, minimally invasive treatments to patients around the world.
“We believe that with this comprehensive suite of RF offerings, Avanos is poised for future growth in all key patient care settings: hospitals, ambulatory surgery centers and physician offices.”
Avanos intends to fund the transaction using its existing credit facility and available cash. Subject to customary closing conditions, the transaction is expected to close in the third quarter of this year.
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