Bioventus Inc. has announced completion of the acquisition of CartiHeal, according to a press release.
“We are excited to add CartiHeal to our diverse portfolio of active healing solutions,” Ken Reali, CEO of Bioventus, said in the release. “CartiHeal represents an important breakthrough for the treatment of osteoarthritis and osteochondral defects of the knee with significant medium- and long-term potential as evidenced by the robust data generated from its pivotal clinical trial showing superiority to current treatments.”
“We believe that the addition of CartiHeal will complement our joint preservation technologies and specifically our hyaluronic acid business, further supporting our short- and mid-term growth drivers and helping us to deliver on our goal of sustained double-digit revenue growth,” Reali added. “We welcome the CartiHeal team to Bioventus and look forward to bringing this life-improving technology to as many patients as possible.”
Bioventus will provide adjusted earnings per share guidance which reflect the acquisition of CartiHeal in its upcoming second quarter earnings call, according to the release.