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.