The company filed an initial public offering with the Securities and Exchange Commission Jan. 19. Bioventus filed an IPO in 2016, but withdrew its application two months later.
Now, the company has stronger revenue — it reported $340.1 million in 2019, representing a 6.5 percent year-over-year increase — and a larger portfolio, which includes products for spinal fusion and other orthopedic procedures.
Despite challenges caused by the COVID-19 pandemic, Bioventus reported a net income of $12.5 million through the third quarter in 2020, according to the report.
The company said it plans to use IPO proceeds for acquisitions, such as CartiHeal, as well as payments of $9.25 million due to Anthony Bihl, who retired as CEO last year.
More articles on biologics:
Spine surgeon, inventor files patent infringement suit against NuVasive
14 key thoughts on bundled payments in spine surgery
Texas orthopedic supergroup launches with 154 physicians, eyes future growth
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.