Bioventus plans to buy CartiHeal for at least $315M to launch knee implant

The CartiHeal Agili-C implant for treating cartilage lesions [Image courtesy of CartiHeal]

Bioventus (Nasdaq: BVS) today said it plans to buy CartiHeal following the FDA’s recent premarket approval of the Israel-based medtech developer’s Agili-C implant.

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…

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