Bioventus said today it launched the Exogen ultrasound bone healing system in Saudi Arabia.
The Durham, N.C.-based company’s Exogen is designed to use low-intensity pulsed ultrasound to “help stimulate the body’s natural healing process.” Bioventus touts an 86% healing rate for fractures not healing on their own and 38% faster healing of fresh fractures with use of the device.
“This announcement marks another milestone as Bioventus continues expanding to international markets and growing its global footprint in orthobiologics. ZIMMO, which has more than 40 years of experience serving the healthcare sector in the region, is working with us to distribute Exogen,” CEO Tony Bihl said in prepared remarks.
“Earlier this spring a team from Bioventus that included representatives from sales and marketing and medical science experts and consultant, visited Riyadh and Jeddah and trained more than 30 surgeons and key opinion leaders on how to use Exogen with patients for both fresh fractures and non-unions. In addition, this move further grows our relationship with ZIMMO as the company also distributes Durolane, our single injection hyaluronic acid osteoarthritis product,” EMEA managing director Andrew Hosmer said in a prepared statement.
In July, Bioventus postponed an initial public offering which was slated to raise up to $150 million. The company had planned to float 8.8 million shares at a price range of between $16 and $18, and would have listed on the NASDAQ exchange under the “BIOV” ticker. The proceeds were earmarked for paying down debt.
