Bioness, Valencia, CA, has been acquired by Bioventus, Durham, NC, a global company with a focus on clinically effective, cost-efficient, minimally invasive medical treatments that engage and enhance the body’s natural healing processes. The acquisition cost was for $45 million in up-front consideration, with up to $65 million of contingent consideration related to the achievement of certain key milestones. The acquisition includes the entire portfolio of Bioness products as well as its research and development pipeline. Under the merger agreement, Bioness has become a wholly owned subsidiary of Bioventus, and all Bioness employees have become employees of Bioventus. The up-front consideration was funded exclusively through cash on hand.
BIONESS ACQUIRED BY BIOVENTUS
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