New Biologics Company Spun Off From Smith & Nephew
A company spun off from the biologics division of Smith & Nephew has launched, according to a news release.
The new company — Bioventus — focuses on active orthopedic healing. Bioventus launched following the finalization of the strategic venture between the company's owners — Smith & Nephew and an Essex Woodlands-led investor syndicate group.
The company's products will include the Exogen bone healing device and the Supartz and Durolane osteoarthritis joint fluid therapies.
"For years, patients and healthcare 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, CEO of Bioventus, who previously oversaw the Smith & Nephew biologics division, in the release. "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."
Bioventus is headquartered in Durham, N.C.
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