Bioventus recently announced that its shareholders approved its agreement to acquire Misonix. Bioventus agrees to pay Misonix shareholders either 1.6839 shares of Bioventus class A common stock or $28.00 for each share of Misonix common stock held. The amount paid to Misonix shareholders results in an approximate valuation of $518 million for Misonix, based on share prices from around the time the acquisition agreement was reached. With the completion of this acquisition, Misonix will become a wholly-owned subsidiary of Bioventus.
Misonix develops minimally invasive therapeutic ultrasonic medical devices and regenerative tissue products for a variety of orthopedic applications. For example, Misonix is the developer of the BoneScalpel, an ultrasonic bone cutting tool. Additionally, Misonix is the developer of the Nexus, an ultrasonic surgical aspirator for precision hard and soft tissue removal.
In a press release, Bioventus’ CEO Ken Reali stated:
We are pleased by the outcome of today’s vote and thank our stockholders for supporting the acquisition. The combination with Misonix creates significant value and provides a deeper global portfolio of pain treatments, restorative therapies and surgical solutions for patients. We are excited to welcome the Misonix team to Bioventus.
Bioventus plans to accelerate the adoption of Misonix’s BoneScalpel and Nexus products through the footprint of Bioventus in the spine surgical solutions area. Bioventus also plans to augment its current lower extremity product offerings with Misonix’s products.
This acquisition is one of three acquisitions by Bioventus this year. Earlier this year, Bioventus acquired Bioness, the developer of neuromodulation and rehabilitation medical devices. Bioventus also has an agreement in place to acquire CertiHeal, the developer of the Agili-C implant.
Tags
Acquisitions, Bioness, Bioventus, CertiHeal, Misonix
