Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
Avanos Medical, Inc. is a U.S.-based medical technology company focused on developing, manufacturing, and marketing clinically differentiated products that address pain management and digestive health needs. The company operates within the medical devices and healthcare technology industries, serving acute care hospitals, ambulatory surgery centers, and alternate site care providers. Avanos’ core strategy emphasizes evidence-based solutions designed to improve patient outcomes while reducing opioid reliance and procedural complications.
The company generates revenue primarily through its Pain Management and Digestive Health product portfolios, which include branded, proprietary devices used in surgical, interventional, and enteral care settings. Avanos positions itself through clinically supported technologies, strong brand recognition in niche categories, and long-standing relationships with hospital systems. The company traces its origins to Halyard Health, Inc., which was spun off from Kimberly-Clark in 2014; it rebranded as Avanos Medical, Inc. in 2017 to reflect its focus on advanced medical technologies.
Business Operations
Avanos operates through two primary business segments: Pain Management and Digestive Health. The Pain Management segment includes non-opioid and opioid-sparing solutions such as the ON-Q pain relief system and the COOLIEF radiofrequency ablation platform, which are used for post-surgical pain and chronic pain treatment. The Digestive Health segment includes enteral feeding solutions such as MIC feeding tubes, CORTRAK enteral access systems, and neonatal-focused products under NeoMed.
Revenue is generated through direct sales and distributor relationships, primarily to hospitals and integrated delivery networks. Avanos maintains manufacturing, research, and distribution capabilities supporting both domestic and international markets. The company operates through wholly owned subsidiaries in key regions and does not rely heavily on joint ventures, instead maintaining control over its core technologies and intellectual property.
Strategic Position & Investments
Avanos’ strategic direction centers on driving growth in non-opioid pain therapies and clinically advanced digestive health technologies. The company has invested in expanding its radiofrequency ablation and surgical pain portfolios, including the acquisition of COOLIEF technology to strengthen its position in interventional pain management. Strategic priorities include product innovation, clinical data generation, and targeted commercial execution in high-growth procedural categories.
The company continues to invest in emerging technologies that support minimally invasive procedures and enhanced recovery protocols. Avanos has also rationalized its product portfolio through selective divestitures and exits from non-core categories, reinforcing its focus on markets where it holds defensible competitive positions and pricing power.
Geographic Footprint
Avanos Medical is headquartered in Alpharetta, Georgia, United States, and operates globally across North America, Europe, Asia-Pacific, and select markets in Latin America and the Middle East. The United States represents the company’s largest revenue-generating market, supported by a direct sales force and established hospital relationships.
Internationally, Avanos maintains sales, marketing, and operational infrastructure across Western Europe and Asia-Pacific, with manufacturing and distribution capabilities designed to support regional demand. The company’s global footprint allows it to participate in international healthcare system growth while leveraging centralized product development and regulatory expertise.
Leadership & Governance
Avanos is led by an executive team with experience in medical devices, healthcare operations, and commercial execution. The leadership emphasizes disciplined capital allocation, clinical evidence generation, and long-term value creation through focused innovation and operational efficiency.
- Dave Pacitti – President & Chief Executive Officer
- Michael Greiner – Executive Vice President & Chief Financial Officer
The company operates under a standard U.S. public company governance structure, with oversight provided by an independent board of directors. Leadership philosophy centers on patient-centered innovation, compliance, and sustainable growth aligned with shareholder interests.