The acquisition allows Avanos to leverage the operational resources of its new parent firm to accelerate an existing innovation roadmap. AIP partner Joel Rotroff noted that the collaboration aims to provide a platform for sustained growth within the medical technology sector. Avanos CEO Dave Pacitti emphasized that the partnership provides the necessary capital to scale development, particularly in clinical solutions for nutrition and opioid-reduction therapies.

Financial and legal oversight for the transaction involved several major firms. J.P. Morgan Securities LLC acted as the lead financial advisor for Avanos, with legal counsel provided by Alston & Bird LLP and additional financial advisory services from UBS Investment Bank. AIP was represented by Sidley Austin LLP, Ropes & Gray LLP, and Baker Botts LLP. With the merger finalized, Avanos will continue its operations from its Alpharetta, Georgia headquarters.