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Bioventus LLC formed from existing division of Smith & Nephew

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A joint venture between an Essex Woodlands investor group and Smith & Nephew has led to the creation of Bioventus, LLC. The new company was formed from Smith & Nephew’s Biologics and Clinical Therapies division, incorporating 500 U.S. employees.

The company focuses on developing products to promote bone healing and treat osteoarthritis pain. Employees of Smith & Nephew outside the United States who create products for Bioventus LLC will remain with Smith & Nephew, but Bioventus LLC will distribute the products outside the United States.

“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,” Mark Augusti, chief executive officer of Bioventus, stated in a company press release. “Our go-forward mission is to be the best in helping patients regain active lifestyles by providing clinically proven and cost-effective orthopedic diagnostics and therapies through our world-class, customer-led professionals.”