Durham, North Carolina-based Bioventus will pay about $315 million to buy the company, excluding the stake already owned by Bioventus after it made a $50 million escrow payment last year.
The deal also includes the potential for Bioventus to pay up to $135 million more if CartiHeal is able to hit $100 million in trailing 12-month sales. Bioventus plans to finance the acquisition with debt.
The transaction is expected to close in the second quarter, followed by a limited market release in the U.S. in the third quarter.
CartiHeal won FDA breakthrough designation for the Agili-C implant in 2020 and received FDA premarket approval i…