Since launching its initial public offering in February, orthobiologics company Bioventus marked several notable achievements, including a multimillion-dollar acquisition.
Five updates:
1. Bioventus launched its initial public offering: 7.35 million shares of its Class A common stock priced between $16 and $18 per share.
2. Larry Chen was appointed as managing director of the company's China and Asian Pacific region.
3. Bioventus has acquired rehabilitation solutions company Bioness for $45 million upfront consideration, with up to $65 million contingent consideration.
4. In the first quarter of 2021, Bioventus saw year-over-year net income growth, roping in $24.5 million.
5. Bioventus has launched a new allograft substitute product, Osteoamp Select Flowable. The allograft is optimal for minimally invasive surgeries and can be used in a various spine and foot and ankle procedures.