Bioventus warns of $185M-$205M impairment, rebate dispute; evaluating going concern

Bioventus Inc.

Preliminary review indicates a non-cash impairment charge of $185M to $205M for Q3 2022.
Disputed rebate invoice from a large private payer in Pain Treatments likely to reduce Q3 revenue and may affect revenue guidance.
Management concludes internal controls for quarterly rebate recognition were inadequate for period ended Oct 1, 2022.
Evaluating ability to meet financial obligations within one year; considering mitigation steps.
Expects to file Form 10-Q by Nov 21, 2022, using 12b-25 extension.

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