Bioventus Inc. (BVS): M&A transaction — Bioventus completes sale of Wound Business for $35M cash + up to $45M earn-out; net ~$30M for debt

Bioventus Inc.

Closed divestiture of TheraSkin and TheraGenesis to LifeNet Health on May 22, 2023.
Received $35M cash at close, $5M deferred 18 months, up to $45M earn-out through 2026.
Net proceeds of ~$30M after adjustments and fees used to repay existing debt.
Exclusive Sales Agent Agreement gives LifeNet Health rights to SonicOne in US and Canada.
Pro forma Q1 2023 net sales from continuing ops $112.2M; net loss from cont ops $78.2M.

item 2.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Bioventus Inc. completed a disposition involving LifeNet Health for $35.0 million (closed 2023-05-22).

Action: disposition
Counterparty: LifeNet Health
Consideration: $35.0 million
Closing: 2023-05-22

Exact text from the filing

On May 22, 2023 , the Transaction closed (the “Closing”) and the Sellers received a cash payment of $35.0 million subject to customary post-closing adjustments for working capital.

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Bioventus Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-019872

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