Bioventus LLC, a new company providing active orthopaedic healing, was launched today following the completion of the strategic venture between the owners of the company, Essex Woodlands, the Investor Union Group, and Smith & Nephew, the global medical technology business.
Durham Headquarters, N Uh, C , Bioventus was created by Smith & Nephew’s former Division of Biologics and Clinical Therapies and includes nearly 500 U. Oh, S Employees of this group as well as innovative and successful products to help accelerate bone healing and treat osteoarthritis pain Employees outside the U for the time being Oh, S Smith & Nephew and Smith & Nephew will continue to distribute products on behalf of Bioventus outside the U. Oh, S This business will be transferred to Bioventus over time as required legal and other approvals are obtained.
“For years, patients and healthcare providers have relied on our innovative products and more than 250 customer-oriented professionals who work directly with them to help provide quality care,” said Mark Augusti, Chief Executive Officer of Bioventus. “As an independent company with the support and support of Essex Woodlands and Smith & Nephew, we will now be able to focus attention and resources on delivering new solutions to the market more quickly. “That’s right.
The business was established in 2008 as a division of Smith & Nephew and currently generates around $240 million in annual revenue worldwide.
“Our mission is to help patients regain active lifestyles by providing clinically proven and cost-effective orthopaedic diagnostics and therapies through our world-class, customer-led professionals,” Augusti said.
Experienced leadership:
Bioventus’ leadership team includes health industry experts and experienced functional leaders. Most were previously with the Smith & Nephew Biologics Division and came from a wide range of leading medical devices, orthobiological and pharmaceutical companies.
The team is led by Augusti, who has built the Smith & Nephew Biologics business as President of Orthopedic Trauma & Clinical Therapies Global Business and Senior Vice President and Chief Executive Officer of Trauma Business. He has also previously held senior positions at JPMorgan Securities and GE Medical Systems.
About Bioventus:
Bioventus is a global leader in active orthopaedic healing, providing clinically proven and cost-effective therapies and diagnostics to help patients regain active lifestyles. The company’s innovative products include a leading bone stimulation device and joint fluid therapy for osteoarthritis. Bioventus’ adherence to high quality standards, commitment to evidence-based medicine and strong ethical behavior make it a reliable partner for physicians worldwide.
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