S&N launches new biologics firm, Bioventus, with focus on active orthopaedic healing

Bioventus, a new company providing active orthopaedic healing, launched yesterday following the finalization of the strategic venture between the company’s owners, an Essex Woodlands led investor syndicate group and the UK’s medical technology group Smith & Nephew.

Headquartered in Durham, North Carolina, USA, 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 innovative and successful products to help accelerate bone healing and treat osteoarthritis pain. For the time being, employees outside of the USA will remain with Smith & Nephew, which will distribute products on behalf of Bioventus outside of the USA. This business will be transitioned 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.

“For years, patients and health care 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 of Bioventus, adding: “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.”