Stock Monitor: CAS Medical Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 7, 2018 / If you want access to our free research report on Halyard Health, Inc. (NYSE: HYH), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HYH as the Company's latest news hit the wire. On June 05, 2018, the Company announced that it has inked a deal to acquire CoolSystems, Inc., marketed as Game Ready®, a market-leading provider of cold therapy and compression therapy systems for a total consideration of $65 million in cash. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Halyard will fund the acquisition from current cash. The transaction is expected to close early in Q3 2018. The transaction is expected to be immaterial to Halyard's fiscal year 2018 adjusted dilutive net earnings per share, and slightly accretive to earnings in 2019. Halyard is reaffirming its 2018 adjusted dilutive net earnings per share guidance of $1.65 to $1.85, which includes earnings from both continuing and discontinued operations.
Combination of Game Ready's Cold Therapy Products with Halyard's ON-Q* Pain Relief System Portfolio will Enhance Halyard's Postoperative Non-Opioid Product Offerings
Joe Woody, CEO of Halyard, stated that the acquisition of Game Ready represents another step forward in Halyard's transformation as a pure-play medical device company and is consistent with the Company's strategy to continually generate value for its patients, customers, and shareholders.
Joe added that the combination of Game Ready's market leading cold therapy products with Halyard's ON-Q* Pain Relief System portfolio will significantly enhance the Company's postoperative non-opioid product offerings and broaden its orthopedic footprint.
According to him, combined, both companies will be better positioned to play a critical role in providing innovative non-opioid therapies that reduce or eliminate the use of opioids for surgical patients and get them back to the things that matter.
Halyard Completed Divestiture of its S&IP Business to Owens & Minor
On May 01, 2018, the Company completed the previously disclosed divestiture of its S&IP business to Owens and Minor, Inc. for $710 million, subject to certain adjustments as provided in the Amended and Restated Purchase Agreement. The divestiture of S&IP transformed Halyard into a focused, pure-play medical devices business with a clear playbook for solid revenue and earnings growth. The Company intends to use the approximately $600 million in net proceeds from the sale to pay off its existing Term Loan B credit facility and to fund internal investment and M&A.
Halyard Changes its Name to Avanos Medical, Inc.
On June 01, 2018, Halyard announced the business rebrand to Avanos Medical, Inc. The new name and brand emphasize the Company's focus on innovating with speed to deliver better, more sustainable patient outcomes. The change in name from Halyard to Avanos will be effective June 30, 2018. In connection with this rebrand, the Company's stock ticker symbol will change from "HYH" to "AVNS" on the New York Stock Exchange. The first day of trading under the new ticker symbol will be July 02, 2018.
About CoolSystems, Inc. (Game Ready)
Game Ready develops, manufactures, and markets the Game Ready® product line, used in the pain management and rehabilitation of patients recovering from orthopedic surgery or sports-related injuries. Its product-line includes GRPro® 2.1 cold and compression therapy system; Med4 Elite™ multi-modality therapy unit; ATX® Wraps; and a variety of product accessories, all of which complement Halyard's existing Pain Management portfolio.
About Halyard Health, Inc.
Headquartered in Alpharetta, Georgia, Halyard Health is a medical technology company focused on advancing health and healthcare by preventing infection, eliminating pain and speeding recovery. The Company delivers clinically-superior products and solutions in infection prevention, surgical solutions, respiratory health, digestive health, pain management, and IV therapy.
Stock Performance Snapshot
June 06, 2018 - At Wednesday's closing bell, Halyard Health's stock slightly rose 0.22%, ending the trading session at $58.63.
Volume traded for the day: 467.21 thousand shares, which was above the 3-month average volume of 457.32 thousand shares.
Stock performance in the last month - up 10.83%; previous three-month period - up 23.72%; past twelve-month period - up 60.85%; and year-to-date - up 26.96%
After yesterday's close, Halyard Health's market cap was at $2.75 billion.
The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 1.0% at the end of the session.
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