Medical technology company Halyard Health entered into a definitive agreement to acquire CoolSystems, marketed as Game Ready, for a total consideration of $65 million in cash.
Here are five things to know:
1. The Game Ready product line is used in the pain management and rehabilitation of patients recovering from sports-related injuries or orthopedic surgery.
2. Game Ready’s flagship product GRPro includes a portable control unit and portfolio of anatomical wraps and sleeves designed to deliver cold and compression therapy to all major body parts.
3. According to Halyard Health CEO Joe Woody, the acquisition of Game Ready’s cold therapy will broaden the company’s orthopedic footprint and expand its postoperative non-opioid product offerings.
4. Halyard will fund the transaction from current cash. The acquisition is expected to close early in the third quarter.
5. Halyard Health is changing its name to Avanos Medical, effective June 30, 2018.
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