Bioventus Announces First Commercial Shipment of the Bioness® Integrated Therapy System (BITS) Balance System

Rhea-AI Summary

Bioventus Inc. (Nasdaq: BVS) announced the commercial launch of the Bioness Integrated Therapy System (BITS) for Balance, marking significant advancements in rehabilitation technology. The system includes over 40 new programs, enhancing the platform's ability to assist healthcare providers in assessing and tracking patients' balance and strength. This initiative aligns with the increasing global need for rehabilitation services, as highlighted by recent studies indicating a substantial portion of the population could benefit from such therapies.

Positive

• Launch of the Bioness Integrated Therapy System (BITS) for Balance, enhancing rehabilitation capabilities.
• Introduction of over 40 new programs and assessments, improving patient care and therapist efficiency.
• Alignment with growing demand for rehabilitation services as indicated by research.

Negative

• None.

Fourteen Facilities Across the US Receive Multidisciplinary Therapy Solution

VALENCIA, Calif., April 27, 2021 (GLOBE NEWSWIRE) -- Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), a global leader in innovations for active healing, announced the first commercial shipments of the Bioness Integrated Therapy System (BITS) for Balance. BITS^® Balance accelerates the value of the BITS platform by adding over 40 new programs and assessments, leveraging proprietary motion sensing technology on any easy to use, adjustable balance platform. From independent physical therapy practices, to regional medical centers, and national providers, the technology will aid clinicians in challenging, assessing, and tracking patients’ balance, stability, and strength, ultimately maximizing therapy outcomes.

“This improvement to BITS Balance will further aid patients in their rehabilitation journey, and make it easier for therapists to provide exceptional care,” said John Nosenzo, Chief Commercial Officer, Bioventus. “Our dedicated clinical partners all have the same goal in mind, to improve patient outcomes.”

New research continues to amplify the increased need for rehabilitation, bringing it to the forefront of patient care. According to a recent study published in American Physical Therapy Association, one in three people worldwide had a condition that rehabilitation could have helped, from both a cognitive and physical level.¹ It is important to note that with each patient and case, the situation is unique and the needs are particular. BITS Balance was designed to create personalized training sessions for every level of mobility, and reduce the time needed to administer tests and analyze results, saving valuable time, while providing critical insight on patient outcomes and progression.

About Bioventus
Bioventus delivers clinically proven, cost-effective products that help people heal quickly and safely. Its mission is to make a difference by helping patients resume and enjoy active lives. The Innovations for Active Healing from Bioventus include offerings for osteoarthritis, surgical and non-surgical bone healing. With the recent acquisition of Bioness, Inc., Bioventus expanded product offerings now include products for acute and chronic pain, central nervous system disorders including stroke and orthopedic injuries. Built on a commitment to high quality standards, evidence-based medicine and strong ethical behavior, Bioventus is a trusted partner for physicians worldwide. For more information, visit www.bioventus.com, www.bioness.com and follow the Company on LinkedIn and Twitter.

Bioventus and the Bioventus logo are registered trademarks of Bioventus LLC. BITS^®, Bioness^®, are trademarks of Bioness Inc.

Individual results may vary. Patients are advised to consult with a qualified healthcare professional to determine if this product is right for them. Important Safety Information and Risks: For Indications for Use, Warnings, Precautions, and other safety information please refer to www.bionesstherapy.com/safety. Also available in the BITS Clinician's Guide online HERE.

1. Cieza A, Causey K, Kamenov K, et al. Global estimates of the need for rehabilitation based on the Global Burden of Disease study 2019: a systematic analysis for the Global Burden of Disease Study 2019. The Lancet. 2030; DOI: https://doi.org/10.1016/S0140-6736(20)32340-0

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements concerning the expected benefits and market opportunities of the BITS Balance system, . In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “predict,” “potential,” “positioned,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results to differ materially from those contemplated in this press release include, but are not limited to, statements about the adverse impacts on our business as a result of the COVID-19 pandemic; our dependence on a limited number of products; our ability to develop, acquire and commercialize new products, line extensions or expanded indications; the continued and future acceptance of our existing portfolio of products and any new products, line extensions or expanded indications by physicians, patients, third-party payers and others in the medical community; our ability to differentiate the hyaluronic acid (“HA”) viscosupplementation therapies we own or distribute from alternative therapies for the treatment of osteoarthritic; the proposed down-classification of non-invasive bone growth stimulators, including our Exogen system, by the U.S. Food and Drug Administration (“FDA”); our ability to achieve and maintain adequate levels of coverage and/or reimbursement for our products, the procedures using our products, or any future products we may seek to commercialize; our ability to complete acquisitions or successfully integrate new businesses, products or technologies in a cost-effective and non-disruptive manner; competition against other companies; the negative impact on our ability to market our HA products due to the reclassification of HA products from medical devices to drugs in the United States by the FDA; our ability to attract, retain and motivate our senior management and qualified personnel; our ability to continue to research, develop and manufacture our products if our facilities are damaged or become inoperable; failure to comply with the extensive government regulations related to our products and operations; enforcement actions if we engage in improper claims submission practices or in improper marketing or promotion of our products; the FDA regulatory process and our ability to obtain and maintain required regulatory clearances and approvals; failure to comply with the government regulations that apply to our human cells, tissues and cellular or tissue-based products; the clinical studies of any of our future products that do not product results necessary to support regulatory clearance or approval in the United States or elsewhere; and the other risks identified in the Risk Factors section of the Company’s public filings with the Securities and Exchange Commission (“SEC”), including Bioventus’ Annual Report on Form 10-K for the period ended December 31, 2020, as such factors may be updated from time to time in Bioventus’ other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investor Relations page of Bioventus’ website at ir.bioventus.com. Except to the extent required by law, the Company undertakes no obligation to update or review any estimate, projection, or forward-looking statement. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business.

Media Contact:
Thomas Hill
919-474-6715
thomas.hill@bioventusglobal.com

Investor Inquiries:
Mike Piccinino, CFA, IRC
Westwicke/ICR
investor.relations@bioventus.com

FAQ

What is the significance of Bioventus' Bioness Integrated Therapy System (BITS) for Balance?

The BITS for Balance enhances rehabilitation by offering over 40 new programs to improve patient assessment and tracking.

How does the launch of BITS for Balance impact Bioventus (BVS) stock?

The launch may positively impact BVS stock by addressing the growing demand for rehabilitation technologies.

When was the Bioness Integrated Therapy System (BITS) for Balance launched?

The system was announced on April 27, 2021.

What does the Bioness Integrated Therapy System (BITS) provide for rehabilitation?

BITS provides advanced motion sensing technology to assess and track patients' balance and strength.

Where is the Bioness Integrated Therapy System (BITS) being implemented?

BITS is being implemented in fourteen facilities across the United States.