Bioventus Sheds Advanced Rehabilitation UnitBioventus Sheds Advanced Rehabilitation Unit

Bioventus has completed the divestiture of its Advanced Rehabilitation business to Accelmed Partners, a private equity firm focused on acquiring and growing commercial-stage HealthTech companies.

The deal, announced on Oct. 1, 2024, enables the Durham, NC-based company to continue improving its focus and execution within its core businesses, while also delivering about $20 million of net closing proceeds to enhance liquidity.

The deal follows Bioventus divesting its wound business to LifeNet Health in 2023. Before the LifeNet Health divestiture, the company had been working on a plan to acquire CartiHeal.

Bioventus nixed its original financing plans and amended the payment structure. Bioventus said it saw CartiHeal as an attractive alternative for patients who receive microfracture or debridement annually and can potentially delay the need for a total knee replacement in patients with joint surface lesions of the knee.

The acquisition of CartiHeal was aligned with Bioventus’ sports medicine and total joint reconstruction call point and extended the company's leadership position in joint preservation technologies.