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NeoMed Announces Capital Infusion to Support Strategic Goals

NeoMed, Inc., a leading provider of neonatal and pedi­atric enteral feeding and medica­tion delivery prod­ucts, is pleased to announce that Avanos Medical, Inc. has invested in NeoMed and taken a minority stake in the company.  As part of this invest­ment, Avanos has the exclu­sive right to acquire the remaining outstanding stock in the busi­ness within twelve months following the April 16, 2019 trans­ac­tion.

In making the announce­ment, NeoMed Founder Tony Lair remarked, “NeoMed has expe­ri­enced double digit growth since the company’s incep­tion.  Finding a suit­able minority equity partner has been part of the ongoing strategic plan­ning for several years and we are excited to have Avanos as an investor. This part­ner­ship allows NeoMed to continue its global effort to enhance patient outcomes by offering safer enteral connec­tors that reduce the risk of miscon­nec­tion.”

NeoMed President Aaron Ingram continued, “This equity invest­ment supports NeoMed’s growth by providing much more flex­i­bility in stream­lining our supply chain, expanding our capacity, and advancing our product devel­op­ment and contin­uous improve­ment efforts.  In addi­tion, it allows us to focus on the new European regu­la­tory require­ments of the EU Medical Device Regulation (MDR) which will esca­late NeoMed’s global sales efforts.”

When deliv­ering the recent Avanos Medical First Quarter 2019 results, Avanos CEO Joe Woody stated, "We…deployed capital to make a minority invest­ment in NeoMed, Inc., a market leader in special­ized feeding and medica­tion dosing for low birth weight, neonatal and pedi­atric patients, and a busi­ness we feel is a strong strategic fit with our Digestive Health port­folio."

About NeoMed, Inc.

Founded in 2007, NeoMed develops inno­v­a­tive enteral collec­tion and delivery prod­ucts supporting the special­ized feeding and medica­tion dosing needs of the low birth weight, neonatal, and pedi­atric patients. With over 370 successful ENFit tran­si­tions repre­senting over 43 million admin­is­tered feed and medica­tion doses, NeoMed is committed to improve patient outcomes through product designs that meet safety, clin­ical, and regu­la­tory guide­lines while supporting cost-containment objec­tives.