Avanos Medical, Inc. (NYSE:AVNS) will look for M&A opportunities. Michael Greiner, Senior Vice President, Chief Financial Officer and Chief Transformation Officer during the first quarter 2024 earnings conference call said that ?Now, turning to our financial position and liquidity, our balance sheet remains strong and continues to provide us with strategic flexibility with $76 million of cash on hand and $177 million of debt outstanding as of March 31. We have maintained bank debt leverage levels meaningfully below 1 turn over the past 9 quarters and will continue to be good stewards of our balance sheet.

While we intend to maintain conservative leverage levels, we will actively pursue strategic M&A opportunities that align with our returns criteria as well as opportunistic share repurchases?.