Avanos Medical has signed a definitive agreement to acquire Canadian company Diros Technology for an undisclosed sum.
Diros is engaged in the manufacturing of radiofrequency (RF) products that are used for the treatment of chronic pain conditions.
The company markets its several products, including RF generators, cannulae and tined probe technology, under the Trident brand.
For chronic pain management, Diros’ products use minimally invasive probes, which heat the nervous tissue near the tip of the probe, to deliver RF energy. This helps deactivate the nerve's potential to transmit pain signals.
Diros’ RF Trident technology complements Avanos’ COOLIEF-cooled radiofrequency product offering besides enabling it to expand the pain management treatment options.
Avanos CEO Joe Woody 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 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 centres and physician's offices.”
Avanos intends to finance the deal using funds from its existing credit facility and available cash and subject to customary closing conditions, the deal is anticipated to complete in the third quarter of this year.
