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Alpharetta-based medical device firm Avanos Medical Inc. has agreed to buy a Canadian provider of chronic pain treatments.
The acquisition of Toronto-based Diros Technology Inc. is expected to close in the third quarter of this year. Terms were not disclosed.
In a news release, Avanos said Diros is a leader in a treatment called radiofrequency ablation, where radio waves are sent through precisely placed probe to heat up nerve tissue, hindering their ability to send pain messages to the brain.
Diros’s products operated under the OWL brand name and treat many conditions including back, cervical, hip, knee and foot pain.
Formerly known as Halyard Health, Avanos rebranded in 2018 and started trading on the New York Stock Exchange under the ticker symbol AVNS in July of that year. The company’s products for chronic care and pain management, from feeding tubes to suction catheters and its own Coolief radio frequency nerve ablation generator, are sold in 90 countries.