Sam Brusco, Associate Editor06.19.23
Avanos Medical entered an agreement to acquire Diros Technology, a manufacturer of innovative radiofrequency (RF) products to treat chronic pain conditions.
Diros Technology is based in Toronto, and its products deliver RF energy via precisely placed, minimally invasive probes that heat nerve tissue neat the probe’s tip, deactivating the nerve’s ability to transmit pain signals. Diros’ RF Trident further boosts Avanos’ pain management options and complement its COOLIEF* cooled RF product.
"The acquisition of Diros Technology strengthens Avanos' leadership position in RF technology by providing a full range of high-quality, differentiated pain management products," Avanos CEO Joe Woody told the press. "We expect our enhanced portfolio will offer significant opportunities to deliver non-opioid-based, minimally invasive treatments to patients throughout the world. With this comprehensive suite of RF offerings, we believe Avanos is poised for future growth across all major sites of patient care: hospitals, ambulatory surgery centers and physician's offices."
The deal is expected to close in Q3 2023. Avanos will finance the transaction with a combination of funds from its existing credit facility and available cash.
Diros Technology is based in Toronto, and its products deliver RF energy via precisely placed, minimally invasive probes that heat nerve tissue neat the probe’s tip, deactivating the nerve’s ability to transmit pain signals. Diros’ RF Trident further boosts Avanos’ pain management options and complement its COOLIEF* cooled RF product.
"The acquisition of Diros Technology strengthens Avanos' leadership position in RF technology by providing a full range of high-quality, differentiated pain management products," Avanos CEO Joe Woody told the press. "We expect our enhanced portfolio will offer significant opportunities to deliver non-opioid-based, minimally invasive treatments to patients throughout the world. With this comprehensive suite of RF offerings, we believe Avanos is poised for future growth across all major sites of patient care: hospitals, ambulatory surgery centers and physician's offices."
The deal is expected to close in Q3 2023. Avanos will finance the transaction with a combination of funds from its existing credit facility and available cash.