Bioventus LLC, a new company providing orthopedic healing products and consultants, announced today that it has launched to offer services to help speed up bone healing and treat osteoarthritis pain.
The biologics company opened after the finalization of the strategic venture between the company's owners, an Essex Woodlands- led investor syndicate group and Smith & Nephew, a global medical technology business.
Headquartered in Durham, N.C., Bioventus grew out of Smith & Nephew's former Biologics and Clinical Therapies division and includes nearly 500 U.S. employees from that group, as well as products to help accelerate bone healing.
Bioventis will focus on helping previously active people sidelined by injury to get back on their feet again. As many of us know, me included, resting after an injury doesn’t always happen. I’m a runner and though I’ve yet to break a bone, I’ve fallen countless times, slicing open my knee and palms, my chin, even my nose (twice). I guess you could say I’m pretty clumsy! But it wasn’t long before I was anxious to be back on the road again, even through a limp.
Bioventus feels its products can help people like me, who may be pushing our luck – and permanent injury – if we don’t get the right care.
Agrees Dr. Charles F. Peebles, at his website, “Athletes are passionate about pushing their bodies to the highest level. The difficulty occurs when this athletic passion runs directly into a fracture, tendon rupture or other potential need for surgery (elective or not). The athlete’s mindset is to keep going and keep pushing forward while our desire is to put on the brakes and give the body the rest it needs to heal.”
"For years, patients and healthcare providers have relied on our innovative products and our more than 250 customer-facing professionals who work directly with them to assist in providing quality care," said Mark Augusti, chief executive officer of Bioventus, in the press release. "As an independent company with the support and backing of Essex Woodlands and Smith & Nephew, we will now be able to focus attention and resources to more quickly deliver new solutions to market."
The company also announced that employees outside the U.S. will temporarily remain with Smith & Nephew and Smith & Nephew will distribute products on behalf of Bioventus outside the U.S., transitioning to Bioventus over time as required legal and other approvals are obtained.
The business was formed in 2008 as a division of Smith & Nephew and currently generates about $240 million in annual revenue worldwide.
"Our go-forward mission is to be the best in helping patients regain active lifestyles by providing clinically proven and cost effective orthopaedic diagnostics and therapies through our world-class, customer-led professionals," Augusti added.
Edited by
Carrie Schmelkin
