DURHAM – Bioventus Inc. has completed its purchase transaction to acquire Israeli firm CartiHeal, the Durham-headquartered company announced today.
The deal was announced in 2021 and followed an investment made by Bioventus that included a purchase option.
Bioventus made a $50 million payment last fall as a part of the deal. The company previously announced terms of the deal and announced it as completed, but later an announced amended acquisition structure.
“We are excited to add CartiHeal to our diverse portfolio of active healing solutions,” said Ken Reali, Bioventus’ chief executive officer, in today’s statement. “CartiHeal represents an important breakthrough for the treatment of osteoarthritis and osteochondral defects of the knee with significant medium- and long-term potential as evidenced by the robust data generated from its pivotal clinical trial showing superiority to current treatments.”
CartiHeal received premarket approval from the U.S. Food and Drug Administration (FDA) for a product known as Agili-C, an implant for the treatment of certain knee-based surface lesions, in March.
Bioventus will make $50M payment, to pursue buying Israeli company
