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Home » Bioventus plans to buy CartiHeal for at least $315M to launch knee implant

Bioventus plans to buy CartiHeal for at least $315M to launch knee implant

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Agili-C CartiHeal Bioventus
The CartiHeal Agili-C implant for treating cartilage lesions [Image courtesy of CartiHeal]
Bioventus (Nasdaq: BVS) today said it plans to buy CartiHeal following the FDA’s recent premarket approval of the Israel-based medtech developer’s Agili-C implant.

Durham, North Carolina-based Bioventus will pay about $315 million to buy the company, excluding the stake already owned by Bioventus after it made a $50 million escrow payment last year.

The deal also includes the potential for Bioventus to pay up to $135 million more if CartiHeal can hit $100 million in trailing 12-month sales. Bioventus plans to finance the acquisition with debt.

Get the full story at our sister site, Medical Design & Outsourcing.

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About Jim Hammerand

Jim Hammerand is the managing editor of Medical Design & Outsourcing. He has more than two decades of journalism experience spanning newspapers, magazines, websites, live events, radio and TV news. For nearly a decade, Hammerand reported and edited business news for American City Business Journals as a reporter and digital editor at the Minneapolis/St. Paul Business Journal and then managing editor of the Puget Sound Business Journal in Seattle. He holds a bachelor’s degree in journalism from the University of Minnesota. He is based near Seattle, Washington, where he and his family live. Connect with him on LinkedIn or by email at [email protected].