Bioventus acquires California devicemaker for up to $110M

Bioventus said March 30 that it has acquired Bioness, a California-based medical devicemaker, for up to $110 million. 

The orthobiologics devicemaker, based in Durham, N.C., said it will pay $45 million upfront to acquire Bioness and up to $65 million more, contingent on meeting certain key milestones. It didn't specify the milestones. 

Under the agreement, Bioness will become a wholly owned subsidiary of Bioventus. 

Bioventus said the total addressable market for medical devices marketed by Bioness is estimated to be more than $8 billion. 

Read the full news release here

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