Bioventus makes $45M acquisition

Patsy Newitt -  

Durham, N.C.-based medical technology company Bioventus has acquired rehabilitation solutions company Bioness for $45 million upfront consideration, with up to $65 million contingent consideration. 

The acquisition includes Valencia, Calif.-based Bioness' six-device portfolio of peripheral nerve stimulation therapy technology sold in 40 countries worldwide, according to a March 31 release.

Bioness systems are designed to help patients regain mobility after a stroke, traumatic brain injury, multiple sclerosis and osteoarthritis.

The total addressable market for Bioness medical devices is estimated to be more than $8 billion. In 2020, Bioness generated approximately $40 million in revenue.

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