Avanos Medical sells respiratory health business to SunMed

Avanos Medical (NYSE:AVNS) announced today that it entered into a definitive agreement to sell its respiratory health business.

The Alpharetta, Georgia-based medtech company agreed to sell the unit to SunMed Group Holdings, LLC. SunMed, headquartered in Grand Rapids, Michigan, manufactures and distributes consumable medical devices. Its product portfolio for anesthesia and respiratory care spans the continuum of care, ranging from first responders to hospitals and home care.

Avanos Medical said its respiratory business divestiture is a “key component” of its three-year transformation process. The company aims to focus its portfolio on markets where it feels well-positioned to succeed.

“Earlier this year, we shared our strategy and intent to optimize our portfolio by focusing on higher-margin and higher-growth markets – particularly in our digestive health and pain management & recovery product categories,” said Joe Woody, Avan…

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