Who Owns Avanos Company?

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Who Owns Avanos Medical?

Understanding a company's ownership is key to grasping its strategy and market position. Avanos Medical, Inc. emerged in November 2014 as a spin-off from Kimberly-Clark Corporation, initially named Halyard Health, Inc. This move distributed 100% of its common stock to Kimberly-Clark shareholders, establishing it as an independent, publicly traded entity.

Avanos Medical, headquartered in Alpharetta, Georgia, rebranded from Halyard Health in June 2018. The company is committed to advancing patient health through superior solutions in infection prevention, pain management, and recovery, aiming to improve patient lives and facilitate faster healing.

As of April 2025, Avanos Medical holds a market capitalization of $572 million. The company reported net revenue of $688 million for 2024 and projects net sales between $665 million and $685 million for 2025. Its ownership is largely institutional, with substantial holdings by major investment firms. This structure influences its strategic decisions, including its focus on products like those detailed in the Avanos PESTEL Analysis.

Avanos Medical, Inc. did not emerge from traditional individual founders. Its origins trace back to November 2014, when Kimberly-Clark Corporation divested its healthcare division. This spin-off created Halyard Health, Inc., with its initial ownership distributed among Kimberly-Clark's existing shareholders.

Independent Public Company

Following the spin-off, Avanos Medical began operating as an independent public company. This structure meant its ownership was held by a broad base of public shareholders.

Shareholder Distribution

The initial ownership of Avanos Medical was established through a tax-free distribution. This process ensured that former Kimberly-Clark shareholders received an equitable stake in the new entity.

No Traditional Founders

Unlike many startups, Avanos Medical did not have individual founders with specific equity stakes. Ownership was inherited from the parent company's shareholder base at the time of the spin-off.

Strategic Vision

The vision for the newly formed company was to leverage its market positions in surgical and infection prevention products. This was aimed at driving performance and pursuing independent growth opportunities.

Incorporation and Headquarters

Avanos Medical was incorporated in 2014 and established its headquarters in Alpharetta, Georgia. This marked the beginning of its operational independence.

Market Focus

The company's early focus was on its leading market positions in medical devices, surgical products, and infection prevention. This strategic direction guided its initial operations.

The early ownership structure of Avanos Medical was a direct consequence of its spin-off from Kimberly-Clark Corporation in November 2014. At this point, the company was known as Halyard Health, Inc. The spin-off involved a tax-free distribution of 100% of Halyard Health's common stock to Kimberly-Clark's shareholders. This meant that the initial Avanos Medical shareholders were essentially the same individuals and entities that held stock in Kimberly-Clark prior to the separation. The company was established with the intent of operating as a standalone public entity, aiming to capitalize on its established market presence in areas such as surgical and infection prevention products, as well as medical devices. This strategic move allowed the company to pursue its own growth initiatives and operational strategies independently. The company later rebranded to Avanos Medical in June 2018, solidifying its identity as a distinct player in the medical technology sector. Understanding this history is key to grasping the current Avanos Company ownership and who owns Avanos Medical today, as the foundation was laid by its initial public shareholders.

Founding Ownership Structure

Avanos Medical's ownership was established through a spin-off, not traditional founding individuals. Its initial shareholders were the shareholders of its former parent company.

• No individual founders with equity stakes.
• Ownership distributed to existing shareholders of the parent company.
• Established as an independent public company from inception.
• Later rebranded from Halyard Health to Avanos Medical in 2018.

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Since its spin-off from Halyard Health in November 2014, Avanos Medical has undergone a significant transformation in its ownership structure. The company, now a publicly traded entity, has seen its shareholder base predominantly shift towards institutional investors, indicating a broad market confidence in its long-term prospects.

The landscape of who owns Avanos Medical is largely dominated by institutional investors, who collectively held approximately 94.60% of the company's shares as of May 2025. Insiders accounted for a smaller portion, around 2.06%. This concentration of ownership among investment firms, mutual funds, and index funds highlights a strategic alignment with professional investment management. The influence of these major Avanos Medical shareholders is substantial, impacting corporate governance and strategic decisions, as evidenced by strong shareholder approval of board elections and proposals in April 2025. The company's financial performance, with 2024 net revenue at $688 million and a market capitalization of $572 million in April 2025, further underscores the significant stakes held by these entities. Understanding these ownership dynamics is crucial for grasping the company's trajectory and its commitment to long-term value creation, aligning with the principles outlined in its Mission, Vision & Core Values of Avanos.

Key Institutional Holders of Avanos Medical

Several prominent institutional investors are major stakeholders in Avanos Medical, wielding significant influence over the company's direction.

• BlackRock, Inc.
• The Vanguard Group, Inc.
• T. Rowe Price Investment Management, Inc.
• Dimensional Fund Advisors LP
• Armistice Capital, LLC
• State Street Corp.
• Brown Advisory Inc.
• Paradice Investment Management LLC
• Exoduspoint Capital Management, LP
• D. E. Shaw & Co., Inc.

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The board of directors at Avanos Medical, Inc. is instrumental in guiding the company's strategic direction and ensuring robust corporate governance. This experienced group, comprising both independent members and those with deep company knowledge, oversees the company's operations and shareholder interests. As of April 24, 2025, five directors were elected for one-year terms, reflecting a commitment to ongoing oversight.

The voting power for Avanos Medical's common stock operates on a one-share-one-vote principle, meaning each share of common stock held by Avanos Medical shareholders grants its holder a single vote on matters presented to the company's stockholders. This structure ensures that the majority of voting power rests with common stockholders, subject to any specific rights associated with preferred stock. The company's capital structure includes 300,000,000 authorized shares of common stock and 20,000,000 shares of preferred stock, though currently, all voting power resides with common stock holders. There are no provisions for cumulative voting or other special voting arrangements like dual-class shares. The board's independence is a key governance feature, with policies adhering to SEC rules and NYSE listing standards. Shareholder confidence in the company's governance was evident in the 2025 Annual Meeting, where proposals, including director elections and auditor ratification, received substantial approval, indicating a stable corporate governance framework. For those interested in the company's journey, a Brief History of Avanos offers further context.

Avanos Company Ownership and Governance

Understanding who owns Avanos Medical and how its governance is structured is key for investors. The board's composition and voting power dynamics are central to the company's operational oversight.

• Avanos Medical is a public company.
• Voting power is primarily held by common stockholders on a one-share-one-vote basis.
• The board of directors is composed of experienced individuals, with a focus on independence.
• Shareholder approval at the 2025 Annual Meeting demonstrated confidence in current governance.

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Over the past 3-5 years, Avanos Medical, Inc. has seen significant shifts in its leadership and strategic focus, impacting its ownership trends. Institutional investors remain the dominant shareholders, reflecting sustained confidence in the company's direction.

Recent developments at Avanos Medical, Inc. indicate a strategic pivot and a focus on shareholder value. The company has experienced notable leadership transitions and has actively managed its business portfolio through divestitures and share repurchases.

Leadership Transitions

The company appointed Dave Pacitti as CEO on April 14, 2025, following the retirement of Joe Woody in October 2024. Scott Galovan joined as Senior Vice President and Chief Financial Officer effective August 1, 2025.

Capital Allocation & Portfolio Management

A new $25 million stock repurchase program was announced in November 2024. The company also completed the sale of its Respiratory Health business and announced the divestiture of its Hyaluronic Acid product line.

Insider Activity and Market Sentiment

Director Gary Blackford purchased $659,300 of stock on August 13, 2025, increasing his holdings by 84%. This occurred when the stock offered an 18% free cash flow yield, suggesting insider confidence.

Strategic Divestitures

The divestiture of the Hyaluronic Acid product line to Channel-Markers Medical, LLC on July 31, 2025, aligns with a strategy to concentrate on core growth areas. This follows the earlier sale of the Respiratory Health business.

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