Bioventus announces acquisition of Bioness
Bioventus Inc. has announced acquisition of Bioness Inc., a rehabilitation solutions company that specializes in peripheral nerve stimulation therapy technology, according to a press release.
Bioventus acquired Bioness for $45 million up-front, with up to $65 million contingent on certain milestones, according to the release.
Nerve stimulation therapy and rehabilitation systems by Bioness are reportedly designed to help patients regain lifestyle and mobility after stroke, traumatic brain injury, multiple sclerosis and osteoarthritis.
“Bioness has developed groundbreaking and best-in-class technologies, and we are excited about the opportunity for Bioventus to further Bioness’ vision of improving the lives of patients,” Ken Reali, CEO of Bioventus, said in the release. “We aim to accelerate Bioness’ revenue growth by leveraging our existing global network of approximately 300 sales representatives calling on orthopedic, pain and podiatric physicians, as well as expanding market access and reimbursement processing capabilities. Most importantly, we welcome the Bioness team of dedicated employees to Bioventus and look forward to working with them to further market adoption,” Reali added.
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