Bioventus led the deal, which also includes the acquisition of exclusive sales and distribution rights to Trice Medical products outside of the United States, the company noted.
Additionally, the companies agreed to enter into a co-development arrangement. The purpose is “to explore the integration of Trice technologies with Bioventus’ current and future peripheral nerve stimulation (“PNS”) offerings of StimRouter and TalisMann,” the company said.. By doing so, Bioventus plans to accelerate product adoption, it noted.
“Trice’s established and growing presence in sports medicine and orthopedics is directly aligned with our strategy of expanding our offerings across these core Bioventus call points,” said Chris Yamamoto, Senior Vice President of Business Development & Strategy, Bioventus. “Our investment will not only fund the ongoing growth of Trice, but also is expected to allow both companies to further validate the merits of a combination.”
Yamamoto will serve on the Board of Directors for Trice Medical. Financial terms were not disclosed by the companies.
Trice Medical is based in Malvern, Pennsylvania. The company website states that the company “pioneered fully integrated camera-enabled technologies that provide a clinical solution that is optimized for the physician’s office” and that the firm was founded to “fundamentally improve orthopedic diagnostics.”