Active healing solutions provider Bioventus has agreed to acquire ultrasonic medical devices provider Misonix in a cash-and-stock transaction valued at around $518m.
Misonix is engaged in the supplying of minimally invasive therapeutic ultrasonic medical devices and regenerative tissue products to its customers.
The company supplies BoneScalpel and SonaStar products, which enable accurate bone sculpting and removal of soft and hard tumours and tissue in the areas of neurosurgery, orthopedic, plastic and maxillo-facial surgery.
It also offers TheraSkin, Therion, TheraGenesis and SonicOn to debride, treat and heal chronic and traumatic wounds in inpatient, outpatient and physician office sites of service.
Misonix CEO Stavros Vizirgianakis said: “Bioventus shares Misonix’s commitment to improving patient outcomes, and we believe this combination will create value for our shareholders as the combined organization continues to drive innovation and increase physician demand.”
The transaction is expected to boost Misonix’s BoneScalpel and Nexus adoption via Bioventus’ spine surgical solutions footprint, as well as strengthen Bioventus’ lower extremity offerings.
It will also expand the direct wound salesforce to better serve physicians’ offices, ambulatory surgical centres, wound clinics and hospitals.
The combined entity will also expand Misonix’s international access through Bioventus’ direct channels and infrastructure in the Netherlands, Canada, Germany, and the UK.
Bioventus CEO Ken Reali said: “We believe the combination with Misonix will create significant value for our shareholders and enable us to better serve our customers with more comprehensive solutions and a broader portfolio. The new Bioventus will also unlock meaningful growth opportunities for the employees of both organisations.”
Subject to regulatory approvals and other customary closing conditions, the deal is expected to be completed in the fourth quarter of this year.
Upon completion of the deal, the combined company is anticipated to carry out business as Bioventus. It will focus on leveraging the global strengths of both product brands as a pure-play regenerative medicine and orthopaedics company.
Perella Weinberg Partners served as lead financial advisor to Bioventus on the transaction, while Morgan Stanley acted as its financial advisor.
Latham & Watkins offered legal counsel to Bioventus, while J.P. Morgan Securities acted as exclusive financial advisor to Misonix. Jones Day acted as legal advisor to Misonix.
