Orthobiologics company Bioventus has signed a lease agreement to double its current operations and manufacturing space in Cordova, Tenn.
The company said it will move its 116 staff into a new facility in the third quarter of 2022 and add 40 jobs over the next five years.
Bioventus Senior Vice President of Operations Miguel Beltran-Delgado said in a Nov. 18 news release that the expansion is "required to manage our organic growth, vertical integration of key manufacturing capabilities and our additional growth through acquisitions."
The new 90,000-square-foot facility — directly across the street from its current one — will include 55,000 square feet for light manufacturing and operations and 35,000 square feet for offices, conference rooms and shared workspaces.
In October, Bioventus finalized its acquisition of spine device company Misonix for a reported $518 million.