Bioventus divests Advanced Rehabilitation business to Accelmed for up to $45M

Bioventus Inc.

Total cash consideration of $45M: $25M at close plus up to $20M in earn-outs.
Net proceeds of ~$20M after fees and expenses will be used to repay existing debt.
Divestiture reduces annual revenue by ~$50M and annual Adj. EBITDA by ~$6M.
Transaction expected to close in Q4 2024, subject to customary conditions.
Bioventus to focus on core business and improve liquidity with the sale.

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