A recently formed life science company in Durham has decided to build its international headquarters in the Netherlands.
Bioventus, which was formed in May, focuses on orthopaedic healing.
The company selected the city of Hoofddorp near Amsterdam as the site for the headquarters, which will cover 7,200 square feet of space.
Bioventus focuses on products and services designed for recovery of an active lifestyle. Products include a bone stimulation device and joint fluids targeting osteoarthritis.
Backers formed the company in May formed largely on the Biologics and Clinical Therapies division of Smith & Nephew. It generates some $240 million in revenue and has some 500 employees. That division is based in Durham. Smith & Nephew is a global merdical technology company.
Bioventus is owned by Smith & Nephew and Essex Woodlands.
“For years, patients and healthcare providers have relied on our innovative products and our more than 250 customer-facing professionals who work directly with them to assist in providing quality care,” said Mark Augusti, chief executive officer of Bioventus, when the company was formed. “As an independent company with the support and backing of Essex Woodlands and Smith & Nephew, we will now be able to focus attention and resources to more quickly deliver new solutions to market.”
Augusti led the Smith & Nephew Biologics business before taking on the new role.