DURHAM, N.C., June 24, 2021 (GLOBE NEWSWIRE) — Bioventus, a global leader in innovations for active healing, has completed a minority investment in Vaporox, Inc., a developer of a highly innovative diabetic foot ulcer wound healing therapy.
Founded in 2016, Vaporox is based in Denver, Colorado and has developed a patented, ultrasonic technology, Vaporous Hyperoxia Therapy, that has demonstrated the ability to heal approximately 85% of DFUs that were unresponsive to the current standard of care. DFUs represent a tremendous cost to the health care system and are one of the most common and severe complications associated with diabetes.
Foot and ankle surgeons are the leading specialty treating the over two million DFUs in the United States. Bioventus, through its peripheral nerve stimulation device, StimRouter, and its ultrasound bone healing system, EXOGEN, offers a wide range of products to foot and ankle surgeons and has a significant direct sales force focused on this specialty.
“The investment in Vaporox represents an attractive valuation entry point and allows us to take a phased approach to a potential acquisition,” said Chris Yamamoto, Senior Vice President of Business Development & Strategy for Bioventus. “We see a significant opportunity ahead of Bioventus to consolidate highly strategic assets that we expect will ultimately drive accretive revenue growth to our business.”
Yamamoto will serve on the Board of Vaporox. Terms of the investment were not disclosed and the transaction is not material to Bioventus.
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 pain treatment & joint preservation, restorative therapies and bone graft substitutes. 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, and follow the Company on LinkedIn and Twitter.
Bioventus, the Bioventus logo and EXOGEN are registered trademarks of Bioventus LLC. StimRouter is a registered trademark of Bioness Inc.
Media Contact:
Thomas Hill
919-474-6715
thomas.hill@bioventus.com
Investor Inquiries:
Mike Piccinino, CFA, IRC
Westwicke/ICR
investor.relations@bioventus.com
