Bioventus Inc. (BVS) plans to raise $126 million in an initial public offering (IPO) on Thursday, February 11th, IPO Scoop reports. The company plans to issue 7,400,000 shares at $16.00-$18.00 per share.
In the last twelve months, Bioventus Inc. generated $320.1 million in revenue and $17.8 million in net income.
Morgan Stanley, J.P. Morgan, Goldman Sachs and Canaccord Genuity acted as the underwriters for the IPO.
Bioventus Inc. provided the following description of their company for its IPO: “We are a global medical device company focused on developing and commercializing clinically differentiated, cost efficient and minimally invasive treatments that engage and enhance the body’s natural healing process. We believe our non-invasive medical device and biologic products play a critical role in supporting the body’s own healing mechanisms to heal or eliminate the pain caused by orthopedic conditions and problems, which we define as our active healing products. Our products are in three categories: 1. OA (osteoarthritis) joint pain treatment and joint preservation – injectable treatments; 2. bone graft substitutes, and 3. a minimally invasive fracture treatment that uses pulsed ultrasound. These products address an estimated $6.0 billion market opportunity across osteoarthritic, or OA, joint pain treatment and joint preservation, spinal fusion surgery and bone fractures, each of which is experiencing growth through multiple industry tailwinds, including an aging population, increased participation in sports and active lifestyles, and a rise in obesity rates. Our devices are most often used to delay or replace the need for an elective surgical procedure and are focused on reaching patients early on in their treatment paradigm. In 2019, approximately 85% of our $340.1 million in revenues were derived from products associated with non-surgical procedures. “.
Bioventus Inc. was founded in 2015 and has employees. The company is located at 4721 Emperor Boulevard, Suite 100 Durham, North Carolina 27703 and can be reached via phone at (919) 474-6700.
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