OrthogenRx, Inc.

Canaccord Genuity acts as Financial Advisor to OrthogenRx, Inc. on its sale to Avanos Medical, Inc. 

Canaccord Genuity is pleased to announce that on December 13, 2021, OrthogenRx, Inc. (“OrthogenRx” or the “Company”), a privately-held medical technology company focused on hyaluronic acid products for the treatment of osteoarthritis (“OA”) knee pain and Avanos Medical, Inc. (NYSE:AVNS), a provider of pain-management focused medical solutions, announced that the two companies have entered into a definitive agreement pursuant to which Avanos has agreed to acquire OrthogenRx for a total consideration of $160 million, consisting of $130 million in cash at closing plus an additional $30 million in contingent cash consideration. The transaction is expected to close in Q1 2022.

Canaccord Genuity acted as financial advisor to OrthogenRx and its Board of Directors in connection with the transaction.

OrthogenRx develops and commercializes orthobiologic products for the treatment of OA-driven knee pain. The Company offers 5-injection and 3-injection hyaluronic acid treatment regimens to help provide pain relief and mobility by supplementing the viscous properties of fluid in the knee joint. The Company is also developing a proprietary, disposable device that will differentiate its intra-articular injection products and improve treatment accuracy.

Avanos Medical is a publicly traded medical technology company focused on delivering clinically superior breakthrough medical device solutions to improve patients’ quality of life. Avanos operates in Pain Management and Chronic Care, focusing on reducing the use of opioids while helping patients recover faster and preventing infection.

Canaccord Genuity is focused on the corporate finance needs associated with growth companies in the United States, Canada, Europe, and Asia. We are structured to provide our clients with a full range of global investment banking services, including corporate finance, research, sales, and trading. Our thematic research focusing on companies around the world provides our firm with unique access to growth investors. In the last twelve months, the firm executed 104 US financings that raised approximately $41.8 billion and advised on over 100 M&A assignments.

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