Bioventus Inc. - BVS STOCK NEWS

Bioventus (BVS) has completed the divestiture of its Advanced Rehabilitation business to Accelmed Partners, a private equity firm specializing in HealthTech companies. The transaction, which was initially announced on October 1, 2024, has generated approximately $20 million in net closing proceeds for Bioventus, enhancing the company's liquidity position. This strategic move allows Bioventus to sharpen its focus and improve execution within its core business segments.

Bioventus (BVS) reported strong Q3 2024 financial results with revenue increasing 15.0% to $139.0 million. The company saw double-digit growth in Pain Treatments and Surgical Solutions. Net loss from continuing operations improved to $5.4 million compared to $8.8 million in the prior year. Adjusted EBITDA grew 8.4% to $23.6 million. The company raised its 2024 guidance, now expecting net sales of $562-567 million and reached an agreement to divest its Advanced Rehabilitation Business for up to $45.0 million.

Bioventus (Nasdaq: BVS) has announced it will release its third quarter fiscal year 2024 financial results before market opening on Tuesday, November 5, 2024. The company will host a conference call at 8:30 a.m. Eastern Time on the same day, featuring management discussion of results and business updates. Investors can join via phone at 1-833-636-0497 or watch the live webcast on the company's investor relations website. The webcast recording will remain available for replay until November 4, 2025.

Bioventus Inc. (Nasdaq: BVS) has announced the sale of its Advanced Rehabilitation business, part of its Bioness subsidiary, to Accelmed Partners for $45 million. The deal includes $25 million in cash at closing and up to $20 million in potential earn-out payments. Bioventus expects to net approximately $20 million after fees and expenses, which will be used to repay existing debt.

The divestiture will reduce Bioventus's annual revenue by about $50 million and annual Adjusted EBITDA by approximately $6 million. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

This strategic move allows Bioventus to focus on its core business and improve liquidity, while positioning the Advanced Rehabilitation business for growth under Accelmed's management. Moelis & Company and Reed Smith LLP are advising Bioventus on the transaction.

Bioventus Inc. (Nasdaq: BVS), a global leader in active healing innovations, has announced its participation in the Canaccord Genuity 44th Annual Global Growth Conference. Mark Singleton, the company's senior vice president and chief financial officer, will engage in a fireside chat on Wednesday, August 14, 2024, at 9:00 a.m. ET.

The event will feature a live webcast of the presentation, followed by a question-and-answer session. Interested parties can access the webcast through the 'Investors' section of Bioventus' website at www.bioventus.com. The presentation will also be available for replay on the site after the event concludes, providing an opportunity for those unable to attend live to catch up on the company's insights and updates.

Bioventus (Nasdaq: BVS) reported strong Q2 2024 financial results, with revenue increasing 10.3% to $151.2 million and organic growth of 13.9%. The company saw double-digit growth in Pain Treatments and Surgical Solutions. Despite a net loss of $32.1 million due to a non-cash impairment charge, Adjusted EBITDA grew 22.4% to $34.5 million. Gross margin expanded by 350 basis points, and cash from operations increased 40.5% to $15.2 million.

Based on strong performance, Bioventus raised its full-year 2024 guidance, now expecting net sales of $557-567 million, Adjusted EBITDA of $104-107 million, and Non-GAAP EPS of $0.36-0.42. The company is focusing on executing strategic priorities, including potential divestiture of its Advanced Rehabilitation Business to reduce debt and focus on core operations.

Bioventus Inc. (Nasdaq: BVS), a global leader in active healing innovations, has announced its plans to release second quarter fiscal year 2024 financial results on August 6, 2024, before the market opens. The company will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results and provide a business update.

Interested parties can participate in the conference call by dialing 1-833-636-0497 and referring to the Bioventus Inc. Conference Call. Additionally, a live webcast of the call and accompanying materials will be available on the company's Investor Relations website. The webcast will be archived and accessible for replay until August 5, 2025.

Apyx Medical announced the retirement of Andrew Makrides as Chairman of the Board, who served the company since 1982, and the appointment of Stavros Vizirgianakis as the new Chairman. Makrides contributed to the company's growth over the years, while Vizirgianakis brings extensive medical device industry experience to the role.

Bioventus Inc. (Nasdaq: BVS) reported strong first-quarter financial results with a revenue increase of 8.7% and organic growth of 15.3%. The company raised its full-year 2024 financial guidance, reflecting enhanced revenue growth and strategic execution. Gross margin expanded significantly, and adjusted EBITDA from continuing operations increased by 33.5%. Bioventus achieved key milestones, including revenue growth in Pain Treatments and Surgical Solutions, liquidity enhancement, and EU MDR Certification for Exogen Bone Stimulation System. The company now expects net sales of $535 million to $550 million, adjusted EBITDA of $94 million to $99 million, and non-GAAP EPS of $0.25 to $0.33 for 2024.