Welcome to our dedicated page for Bioventus news (Ticker: BVS), a resource for investors and traders seeking the latest updates and insights on Bioventus stock.
Bioventus Inc. (Nasdaq: BVS) is a global leader in orthobiologics, committed to providing innovative solutions that enhance the body’s natural healing processes. The company offers a comprehensive array of medical technology products designed to support musculoskeletal healing, including orthobiologic treatments, surgical solutions, and pain management therapies.
Founded in 2012 and headquartered in Durham, North Carolina, Bioventus has grown to employ nearly 600 professionals worldwide, with international offices in Hoofddorp, the Netherlands; Memphis, Tennessee; Australia; Canada; and a research and development site in Boston. The company’s mission is to help patients resume and enjoy active lives by delivering clinically proven, cost-effective products that ensure quick and safe recovery.
Bioventus operates through two main product portfolios: Bioventus Active Healing Therapies and Bioventus Surgical. These portfolios are enhanced through internal product development, strategic acquisitions, and distribution agreements. Their diverse range of products spans various medical specialties, including sports medicine, total joint reconstruction, hand and upper extremities, foot and ankle, podiatric surgery, trauma, spine, and neurosurgery.
Financially, Bioventus has demonstrated resilience and growth, reporting in its latest quarterly results a robust increase in adjusted EBITDA and significant improvements in cash flow and operating income. Despite a slight dip in total net sales, the company saw strong volumes in Surgical Solutions and substantial growth in its international markets.
Recent highlights include management’s focused efforts to stabilize operations, enhance liquidity, and maintain spending discipline. This strategic approach has positioned Bioventus to accelerate revenue growth and create long-term value for its stakeholders. The company continues to be a trusted partner to physicians and healthcare providers globally, offering high-quality, evidence-based medical solutions.
Bioventus (BVS) announced an amendment to its Credit and Guaranty Agreement with Wells Fargo, offering financial covenant relief until Q1 2024. The adjusted net leverage ratio will reach approximately 7.2x Adjusted EBITDA, enhancing the company's financial flexibility for growth initiatives. The Revolving Credit Facility will now mature on October 29, 2025, with commitments reduced to $45 million by year-end 2023, then $40 million by mid-2024. Interest rates for outstanding debt will be SOFR + 4.25%. The company emphasizes its mission to deliver effective healing solutions for patients while maintaining ethical standards.
Bioventus (BVS) has announced a change in the release schedule of its fourth quarter fiscal year 2022 financial results, now set for March 31, 2023, before market opening. The adjustment allows for additional time to finalize financial statements. Following the announcement, Bioventus will hold a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results and provide updates on business operations. Interested participants can join via telephone or listen through a live webcast on the Investor Relations section of the Bioventus website, which will also host an archived version of the call for replay until March 30, 2024.
Bioventus Inc. (BVS) announced its financial results for the fourth quarter of fiscal year 2022 will be reported on March 30, 2023, before market opens. A conference call will follow at 8:30 a.m. ET to discuss the results and provide a business update. Investors can participate by dialing 1-833-636-0497 domestically or +1-412-902-4241 internationally. The call will be webcasted live and archived on the company’s Investor Relations website, available for replay until March 29, 2024. Bioventus focuses on innovations that promote active healing, showcasing its commitment to high-quality healthcare products.
Bioventus (Nasdaq: BVS) announced a Settlement Agreement with former CartiHeal shareholders, potentially eliminating up to $350 million in deferred purchase price obligations. The agreement allows Bioventus a 30-day period to evaluate funding options to cover $215 million in post-closing tranche payments, while releasing the company from future claims. In exchange for this flexibility, Bioventus will pay $10 million in cash and an additional $150,000 for expenses. If funding isn't secured, ownership of CartiHeal will revert to its sellers. This strategic move aims to enhance financial stability and mitigate potential obligations.
Bioventus Inc. (Nasdaq: BVS) announced that CEO Ken Reali will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 5:15 p.m. PT (8:15 p.m. ET). The presentation will be live-streamed and accessible via the Bioventus Investors webpage, remaining available until February 10, 2023.
Bioventus focuses on delivering innovative, clinically proven products for active healing, including pain treatments and surgical solutions, emphasizing quality and ethical practices.
Bioventus (Nasdaq: BVS) announced the filing of a Form 12b-25 for late submission of its quarterly report for the period ending October 1, 2022. Following a decline in market capitalization after its Q3 earnings release, Bioventus is reviewing potential non-cash impairment charges, estimating between $185 million and $205 million. The company is also addressing a revised invoice related to rebate claims that may adversely influence its Q3 financial results and revenue guidance. Despite these challenges, Bioventus does not expect changes to its adjusted EBITDA guidance for 2022.
Bioventus reported Q3 2022 net sales of $137.1 million, reflecting a 25.9% year-over-year increase, with net income of $3.2 million compared to a net loss of $2.3 million in Q3 2021. Adjusted EBITDA rose to $22.7 million. However, the company reduced its full-year sales guidance to $527-$532 million from $547.5-$562.5 million, citing temporary reimbursement issues and the discontinuation of the MOTYS development. Cash and cash equivalents decreased to $34.4 million alongside increased debt obligations of $424.4 million.
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