Bioventus Announces Divestiture of its Advanced Rehabilitation Business to Accelmed Partners
Bioventus Inc. - Class A (BVS)
Company Research
Source: GlobeNewswire
DURHAM, N.C., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a global leader in innovations for active healing, announced today that it has signed a definitive agreement to sell its Advanced Rehabilitation business of its subsidiary, Bioness, to Accelmed Partners (“Accelmed”), a private equity firm focused on acquiring and growing commercial-stage HealthTech companies. The transaction includes a total cash consideration of $45 million, including $25 million in cash at close (subject to a working capital adjustment) and up to $20 million in potential post-closing earn-out payments. At the time of closing, the Company expects to net approximately $20 million after fees and expenses, which will be used to repay existing debt. “This agreement reflects our deep respect for the Advanced Rehabilitation business and the many patients who benefit from its life-changing technology. The business will now be positioned in an environment tha
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BVS
Earnings
- 11/5/24 - In-Line
BVS
Sec Filings
- 11/14/24 - Form SCHEDULE
- 11/8/24 - Form SC
- 11/5/24 - Form 10-Q
- BVS's page on the SEC website