Bioventus, a provider of orthobiologic solutions, acquired the OsteoAMP product line from Advanced Biologics.
OsteoAMP is a bone allograft made using a proprietary process designed to retain the bone's natural growth factor complement. It is used by spine surgeons to promote natural bone growth and healing. Bioventus will distribute OsteoAMP through its current network of distributors.
Bioventus is also creating a new business group to accelerate the growth of the OsteoAMP product line. Henry Tung, MD, has been appointed as vice president and general manager of Surgical Orthobiologics for the company.
"Surgical orthobiologics is a priority for Bioventus and this acquisition puts the company in position to engage with customers in this market and grow the segment," said Anthony P. Bihl III, CEO of Bioventus. "We are very pleased to be in business with the talented team at Advanced Biologics. The well-developed and successful clinical data set distinguishes OsteoAMP from competitive technologies. In addition, this agreement also includes R&D and product supply which could lead to future innovations in this space."
More articles on devices:
10 trends in the North American arthroscopic device market
Spineart's cervical secured cage system receives FDA approval
NuVasive, RTI Surgical, Amedica & more — 11 key notes