Bioventus Inc. develops and commercializes medical device products for active healing, pain treatment, musculoskeletal care and surgical applications. The company organizes its portfolio around Pain Treatments, Restorative Therapies and Surgical Solutions, including products such as peripheral nerve stimulation devices, bone graft substitutes, ultrasonics, hyaluronic acid injections and ultrasound-based fracture healing therapies.
Recurring Bioventus news covers quarterly and annual results, financial guidance, revenue trends across its product areas and geographic markets, cash flow and margin performance, healthcare conference presentations, portfolio updates and regulatory developments affecting products such as Peripheral Nerve Stimulation offerings.
Bioventus (Nasdaq: BVS) announced its participation in two upcoming virtual conferences: the Canaccord Genuity Virtual Musculoskeletal Conference on May 20 at 8:30 a.m. ET and the Goldman Sachs 42nd Annual Global Healthcare Conference on June 9 at 11:20 a.m. ET. Presentation materials will be accessible on the investor relations section of the Bioventus website prior to each event. A live audio webcast and replay links will also be available for 30 days afterward. Bioventus focuses on innovations for active healing, particularly in osteoarthritis and various pain management solutions.
Bioventus Inc. (Nasdaq: BVS) reported its financial results for Q1 2021, revealing net sales of $81.8 million, a 4.0% year-over-year increase. Net income soared to $24.5 million, up 133.9% from last year. However, Adjusted EBITDA fell to $11.1 million, a decline of 22.3%. The company completed its acquisition of Bioness, enhancing its market reach in the neuromodulation sector. Bioventus raised its 2021 revenue guidance by $4 million to a new range of $406 million, anticipating a year-over-year increase of 23% to 26%.
Bioventus Inc. (Nasdaq: BVS) announced the commercial launch of the Bioness Integrated Therapy System (BITS) for Balance, marking significant advancements in rehabilitation technology. The system includes over 40 new programs, enhancing the platform's ability to assist healthcare providers in assessing and tracking patients' balance and strength. This initiative aligns with the increasing global need for rehabilitation services, as highlighted by recent studies indicating a substantial portion of the population could benefit from such therapies.
Bioventus (BVS) announced that it will release its first quarter fiscal year 2021 financial results after market close on May 12, 2021. A conference call to discuss the results will follow at 5:00 p.m. ET on the same day. Shareholders and interested parties can participate by dialing 844-945-2085 or accessing the live webcast via the company's investor relations website. Bioventus continues to focus on providing innovative and clinically proven solutions for active healing, including recent expansions through the acquisition of Bioness, enhancing its product portfolio for pain management and rehabilitation.
Bioventus (Nasdaq: BVS) has acquired Bioness for $45 million upfront, with potential additional payments up to $65 million based on performance milestones. Bioness, known for its neuromodulation and rehabilitation technologies, will enhance Bioventus’ portfolio and is expected to contribute positively to revenue and net income post-acquisition. The move aligns with Bioventus' strategy to leverage its existing infrastructure for growth, targeting a market worth over $8 billion. In 2020, Bioness reported $40 million in revenue.
Bioventus reported its financial results for Q4 and FY 2020, revealing a 1% increase in net sales to $98.6 million, with U.S. sales up 3%. However, international sales fell 17%. The full year saw a 6% decline in net sales to $321.2 million. Net income from continuing operations in Q4 was $2.3 million, down 58% year-over-year, while full-year net income rose 81% to $14.7 million. The company expects sales growth of 12% to 16% in 2021 and has raised $111.2 million from its IPO.
Bioventus (BVS) has initiated a Phase 1 open-label, dose-escalation study of MOTYS (PTP-001) for treating knee osteoarthritis (OA). The study, led by Dr. Shailesh Patel, has enrolled 20 patients receiving a single injection of PTP-001, with follow-ups to assess safety, efficacy, pain, and mobility improvements. This trial is pivotal amidst COVID-19 challenges and aims to expand treatment options beyond current corticosteroids and hyaluronic acid therapies. Bioventus targets a growing OA market with over 14 million affected individuals in the U.S.
Bioventus has appointed Larry Chen as Managing Director for China and Asia Pacific to enhance market penetration of its products. Chen, with over 20 years in healthcare sales and marketing, will focus on Bioventus' presence in China. His previous roles include key positions at Zipline Medical and Smith & Nephew. The company's mission centers on providing effective solutions for osteoarthritis and bone healing, benefiting both patients and clinicians.
Bioventus Inc. (Nasdaq: BVS) announced that it will release its fourth quarter and fiscal year 2020 financial results on March 25, 2021, after market close. Management will host a conference call at 5:00 p.m. ET on the same day to discuss the results and provide a business update, followed by a Q&A session. Interested participants can join via phone or through a live webcast available on the investor relations section of the company's website. The webcast will be archived for replay until March 25, 2022.
DURHAM, N.C., Feb. 10, 2021 - Bioventus has priced its initial public offering (IPO) of 8,000,000 shares of Class A common stock at $13.00 per share. The shares are expected to begin trading on Nasdaq under the symbol 'BVS', with the offering set to close on February 16, 2021. The gross proceeds from the offering are anticipated to be around $104 million, potentially increasing to $119.6 million if underwriters exercise their option for an additional 1,200,000 shares. Morgan Stanley, J.P. Morgan, and Goldman Sachs are the lead underwriters.