Bioventus Opens International Headquarters and Launches Products in the Netherlands (English)

HOOFDDORP, THE NETHERLANDS – Bioventus, a global leader in active orthopaedic healing, today launched its Dutch entity, coinciding with the official opening of the company’s new International Headquarters in Hoofddorp. The new biologics company delivers clinically proven, cost-effective solutions that help people recover and heal quickly and safely.

With corporate headquarters in the United States, Bioventus was formed earlier this year as a strategic partnership between the company’s owners – Smith & Nephew, the global medical technology business, and an Essex Woodlands led investor syndicate group. With today’s launch, the Smith & Nephew biologics and clinical therapies business in the Netherlands, including employees and products, transition over to Bioventus.

“The transition to Bioventus should be seamless for patients and healthcare providers who have relied on our innovative products and quality service over the years,” said Mark Augusti, CEO of Bioventus. “Their sales contacts within our company will remain the same, as will our product portfolio.

“In fact, except for the rebranding of our organization and products, the only major change will be an increase in the level of support and product expertise we provide through our new, multi-lingual customer care center located in our International Headquarters,” he added.

As part of the transition, Bioventus products delivered in the Netherlands will be rebranded from their current Smith & Nephew labels to Bioventus. The products themselves will not change and will remain the same clinically proven, safe, effective solutions that physicians and patients know and trust. This includes:

• EXOGEN® Ultrasound Bone Healing System – a product indicated in Europe to accelerate the healing of fractures and to heal bones that have either delayed healing (delayed unions) or stopped healing completely (non-unions). EXOGEN has been show to heal 86 percent of non-unions fractures* and accelerate the healing of fresh fractures up to 38 percent faster than normal**. EXOGEN is developed and marketed by Bioventus in countries around the world. (See the EU indications statement below.)

• DUROLANE® – a single-injection, 3ml, joint-fluid treatment to relieve mild to moderate osteoarthritis (OA) pain of all sizes of synovial joints. A 1ml version of the product, DUROLANE SJ, is also available and indicated for treatment of OA pain in small joints. DUROLANE is developed by Q-Med AB and marketed by Bioventus in many countries outside the U.S. (See the EU indications statement below.)

About Bioventus
Bioventus is a biologics company that delivers clinically proven, cost-effective products that help people heal quickly and safely. The company’s innovative products include market-leading devices, therapies and diagnostics that make it a global leader of active orthopaedic healing. 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.BioventusGlobal.com or follow the company on Facebook (www.facebook.com/bioventus) or Twitter (@BioventusGlobal / www.twitter.com/BioventusGlobal).

EXOGEN and the Bioventus logo are registered trademarks of Bioventus LLC. DUROLANE is a registered trademark of Q-Med AB.

* Nolte et al (2001) Low Intensity Pulsed Ultrasound in the Treatment of Nonunions, J. Trauma 51 (4) 693-703
** Kristiansen et al (1997) J. Bone Joint Surg. 79A 961-973 Accelerated Healing of Distal Radial Fractures with the Use of Specific, Low-Intensity Ultrasound A Multicenter, Prospective, Randomized, Double-Blind, Placebo-Controlled Study; Heckman JD, Ryaby JP, McCabe J et al. (1994) Acceleration of tibial fracture-healing by non-invasive, low-intensity pulsed ultrasound. Journal of Bone & Joint Surgery - American Volume 76:26-34.

EXOGEN summary of indications for use in the EU:
EXOGEN Ultrasound Bone Healing System is indicated for the non-invasive treatment of osseous defects (excluding vertebra and skull) that includes: Treatment of delayed union and non-unions, accelerating the time to heal of fresh fractures, treatment of stress fractures, accelerating repair following osteotomy, accelerating repair in bone transport procedures, accelerating repair in distraction osteogenesis procedures, treatment of joint fusion. There are no known contraindications for the EXOGEN device. Safety and effectiveness has not been established for individuals lacking skeletal maturity; pregnant or nursing women; patients with cardiac pacemakers; on fractures due to bone cancer; or on patients with poor blood circulation or clotting problems. Some patients may be sensitive to the ultrasound gel. Full prescribing information can be found at www.healmybone.com.

DUROLANE summary of indications for use in the EU:
DUROLANE (3ml): Symptomatic treatment of mild to moderate knee or hip osteoarthritis. In addition, DUROLANE has been approved in the EU for the symptomatic treatment associated with mild to moderate osteoarthritis pain in the ankle, shoulder, elbow, wrist, fingers, toes, and the temporomandibular and facet joints. DUROLANE SJ (1ml): Symptomatic treatment associated with mild to moderate osteoarthritis pain in the ankle, elbow, wrist, fingers, toes, and the temporomandibular and facet joints. Both DUROLANE and DUROLANE SJ are also indicated for pain following joint arthroscopy either in the presence of osteoarthritis or subsequent to general surgical repair within 3 months of the procedure. There are no known contraindications. You should not use DUROLANE if you have infections or skin disease at the injection site. DUROLANE has not been tested in pregnant or lactating women, or children. Risks can include transient pain, swelling and/or stiffness at the injection site. Full prescribing information can be found at www.durolane.com.

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Bioventus Opent Internationaal Hoofdkantoor En Lanceert Producten in Nederland (Dutch)

Bioventus Opent Internationaal Hoofdkantoor En Lanceert Producten in Nederland (Dutch)

HOOFDDORP, Nederland – Bioventus, een wereldwijd marktleider op het gebied van actieve orthopedische behandeling, heeft vandaag een Nederlandse vestiging geopend, samenvallend met de officiële opening van het nieuwe internationale hoofdkantoor in Hoofddorp. Het nieuwe Biologics bedrijf levert klinisch bewezen, kosteneffectieve oplossingen die mensen helpen bij een snelle en veilige genezing.

Bioventus, met de hoofdvestiging van het bedrijf in de Verenigde Staten, werd eerder dit jaar opgericht als een strategisch partnerschap tussen de eigenaren – Smith & Nephew, het wereldwijde medisch-technologisch bedrijf en een investeerderssyndicaat geleid door Essex Woodlands. Met de lancering van vandaag gaat het Smith & Nephew bedrijf Biologics en Clinical Therapies in Nederland, inclusief medewerkers en producten, over naar Bioventus.

“De overgang naar Bioventus moet naadloos zijn voor patiënten en zorgverleners die al jarenlang op onze innovatieve producten en kwaliteitsdienstverlening vertrouwen,” aldus Mark Augusti, CEO van Bioventus. “Hun verkoopcontacten binnen ons bedrijf blijven hetzelfde, evenals onze productenportefeuille.

“Behalve de rebranding van onze organisatie en producten, is de enige belangrijke verandering een toename van het niveau van ondersteuning en productervaring dat wij bieden via ons nieuwe, meertalige klantenservicecentrum dat is gevestigd in ons internationaal hoofdkantoor,” voegde hij hieraan toe.

Als onderdeel van de overgang zal de merknaam van de producten van Bioventus die in Nederland worden geleverd worden veranderd van het huidige Smith & Nephew naar Bioventus. De producten zelf zullen niet veranderen en blijven dezelfde, klinisch bewezen, veilige en werkzame oplossingen die artsen en patiënten kennen en vertrouwen. Deze zijn:

• EXOGEN® Ultrasoon botgenezingssysteem – een product dat in Europa geïndiceerd is voor de versnelling van de genezing van fracturen en de genezing van botten die traag genezen (delayed union) of botten die niet volledig genezen (non-union). Gebleken is dat EXOGEN 86 procent van de non-union-fracturen geneest* en de genezing van nieuwe fracturen tot 38 procent sneller laat verlopen dan normaal**. EXOGEN is door Bioventus ontwikkeld en in de handel gebracht in landen over de hele wereld. (Zie de onderstaande EU-indicatieverklaring.)

• DUROLANE® – een éénmalige injectie, 3 ml, gewrichtsbehandeling ter verlichting van lichte tot matige osteoartritis (OA) pijn in alle maten van synoviaalgewrichten. Een 1 ml versie van het product, DUROLANE SJ, is ook verkrijgbaar en geïndiceerd voor behandeling van OA-pijn in kleine gewrichten. DUROLANE is ontwikkeld door Q-Med AB en door Bioventus in de handel gebracht in een groot aantal landen buiten de VS. (Zie onderstaande EU-indicatieverklaring.)

Over Bioventus
Bioventus is een Biologics bedrijf dat klinisch bewezen, kosteneffectieve producten levert die mensen helpen snel en veilig te genezen. De innovatieve producten van het bedrijf zijn marktleidende hulpmiddelen, behandelingen en diagnostica die het bedrijf tot een wereldmarktleider maken op het gebied van actieve orthopedische genezing. Gebouwd op een commitment van hoge kwaliteitsnormen, op bewijs gebaseerde geneeskunde en sterk ethisch gedrag, is Bioventus een vertrouwde partner voor artsen wereldwijd.

Bezoek voor meer informatie www.BioventusGlobal.com of volg het bedrijf op (www.facebook.com/bioventus) of Twitter (@BioventusGlobal / www.twitter.com/BioventusGlobal).

EXOGEN en het Bioventus logo zijn geregistreerde handelsmerken van Bioventus LLC. DUROLANE is een geregistreerd handelsmerk van Q-Med AB.

* Nolte et al (2001) Low Intensity Pulsed Ultrasound in the Treatment of Nonunions, J. Trauma 51 (4) 693-703
** Kristiansen et al (1997) J. Bone Joint Surg. 79A 961-973 Accelerated Healing of Distal Radial Fractures with the Use of Specific, Low-Intensity Ultrasound A Multicenter, Prospective, Randomized, Double-Blind, Placebo-Controlled Study; Heckman JD, Ryaby JP, McCabe J et al. (1994) Acceleration of tibial fracture-healing by non-invasive, low-intensity pulsed ultrasound. Journal of Bone & Joint Surgery - American Volume 76:26-34.

EXOGEN samenvatting van de indicaties voor gebruik in de EU:
Het EXOGEN ultrasoon botgenezingssysteem is geïndiceerd voor de non-invasieve behandeling van botdefecten (exclusief wervels en schedel), namelijk: Behandeling van delayed union en non-union, versnelling van de tijd tot genezing van nieuwe fracturen, behandeling van stressfracturen, versnelling van het herstel na osteotomie, versnelling van het herstel bij botverplaatsingprocedures, versnelling van het herstel bij distractie-osteogenese-procedures, behandeling van gewrichtsfusie. Er zijn geen bekende contra-indicaties voor het EXOGEN hulpmiddel. De veiligheid en effectiviteit zijn niet vastgesteld voor personen bij wie het skelet niet is volgroeid; zwangere vrouwen of vrouwen die borstvoeding geven, patiënten met cardiale pacemakers; op fracturen als gevolg van botkanker of bij patiënten met een slechte bloedcirculatie of met stollingsproblemen. Sommige patiënten kunnen gevoelig zijn voor de bij een echo gebruikte gel. De volledige voorschrijfinformatie is te vinden op www.healmybone.com.

DUROLANE samenvatting van de indicaties voor gebruik in de EU:
DUROLANE (3 ml): Symptomatische behandeling van lichte tot matige osteoartritis van de knie of heup. Bovendien is DUROLANE in de EU goedgekeurd voor de symptomatische behandeling van lichte of matige osteoartritispijn in de enkel, schouder, elleboog, pols, vingers, tenen en de temporomandibulaire en facetgewrichten.

DUROLANE SJ (1 ml): Symptomatische behandeling van lichte of matige osteoartritispijn in de enkel, elleboog, pols, vingers, tenen en de temporomandibulaire en facetgewrichten.
Zowel DUROLANE als DUROLANE SJ zijn ook geïndiceerd voor pijn na gewrichtsartroscopie in aanwezigheid van osteoartritis of na algemeen chirurgisch herstel binnen 3 maanden na de ingreep.
Er zijn geen bekende contra-indicaties. U mag DUROLANE niet gebruiken als u last hebt van infecties of een huidaandoening op de injectieplaats. DUROLANE is niet getest bij zwangere vrouwen, vrouwen die borstvoeding geven en kinderen. Tot de risico's kunnen behoren voorbijgaande pijn, zwelling en/of stijfheid op de injectieplaats. De volledige voorschrijfinformatie is te vinden op www.durolane.com.

Deze bekendmaking is officieel geldend in de originele brontaal. Vertalingen zijn slechts als leeshulp bedoeld en moeten worden vergeleken met de tekst in de brontaal welke als enige juridische geldigheid beoogt.

 


Bioventus Signs Lease for New Memphis Facility

Bioventus Signs Lease for New Memphis Facility

DURHAM, N.C. – Bioventus LLC, a leader in active orthopaedic healing, announced today the signing of a lease agreement for new office and manufacturing space off Goodlett Farms Parkway in Memphis, Tenn. at 1900 Charles Bryan Road. The company expects to move its Memphis-based employees into the 40,000-square-foot space in February 2013 following the build out of the new facility.

The company, formed in May as a strategic venture between Essex Woodlands and Smith & Nephew, occupies space at Smith & Nephew’s Brooks Road and Holmes Road locations. The move enables Bioventus to consolidate its Memphis functions, including operations, manufacturing, quality and human resources.

“Combining our functions in a single location not only provides facility cost benefits, but also increases our efficiency in terms of staff management and communications,” said Anthony James, VP of Operations and Quality for Bioventus. “The site is also strategically located near major transportation hubs, enabling us to provide rapid and cost-effective service for our customers.”

Bioventus currently has about 500 U.S. employees including about 130 in Memphis.

About Bioventus
Bioventus is a biologics company that delivers clinically proven, cost-effective products that help people heal quickly and safely. The company’s innovative products include market-leading devices, therapies and diagnostics that make it a global leader of active orthopaedic healing. 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.BioventusGlobal.com.

 


Bioventus Names David Price New Chief Financial Officer

Bioventus Names David Price New Chief Financial Officer

DURHAM, N.C. – Bioventus, a leader in active orthopaedic healing, today announced the appointment of David Price as its new chief financial officer. Price, who joins the company today, will be located in Bioventus’ corporate headquarters in Durham.

“David has a proven track record as a CFO in the finance and healthcare sectors, where he has significantly improved financial operations and positioned companies for long-term success,” said Mark Augusti, chief executive officer of Bioventus. “We’re confident in David, and know that his leadership on our executive team will help propel us forward.”

Price, 50, comes to Bioventus from EDGAR Online Inc. – a financial data, technology and business process outsourcing (BPO) company – where he served as CFO, chief operating officer and corporate treasurer. During his two years with the company, Price managed a team of more than 300 with responsibilities that included all financial strategy and reporting, investor relations, corporate development, human resources and BPO operations.

Prior to joining EDGAR Online, Price served as CFO and executive vice president of finance, corporate treasurer for Cornerstone Therapeutics, Inc., a Cary, N.C.-based, $120+ million publicly traded specialty pharmaceutical company. While at Cornerstone, he was named Ernst & Young CFO of the Year (2009) for small public companies.

Price had previously served as managing director in the healthcare sector at two investment banking firms – Jefferies & Company in New York, and Bear Stearns & Co. in London and New York – and worked at PricewaterhouseCoopers Consulting, Arthur Andersen and Lex Service PLC. He holds an honors degree in accounting and financial management from Lancaster University in the UK and is a member of the Institute of Chartered Accountants in England and Wales.

About Bioventus
Bioventus is a biologics company that delivers clinically proven, cost-effective products that help people heal quickly and safely. The company’s innovative products include market-leading devices, therapies and diagnostics that make it a global leader of active orthopaedic healing. 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.BioventusGlobal.com or follow the company on Facebook (www.facebook.com/bioventus) or Twitter (@BioventusGlobal or www.twitter.com/BioventusGlobal).

 


Bioventus and Esaote North America Bring Diagnostic Ultrasound and MRI to Musculoskeletal Market

Bioventus and Esaote North America Bring Diagnostic Ultrasound and MRI to Musculoskeletal Market

DURHAM, N.C. and INDIANAPOLIS, IN – Bioventus, a leader in active orthopaedic healing, and Esaote North America, a global leader in diagnostic ultrasound and magnetic resonance imaging, today announced an agreement for distributing Esaote’s products through Bioventus’ sales channel. Beginning immediately, Bioventus is the distributor of Esaote’s portable ultrasound solutions to U.S. orthopaedic clinics and practices focused on musculoskeletal conditions.

“We evaluated a number of ultrasound manufacturers and products to determine which would be the best fit for our company and our customers,” said Mark Augusti, chief executive officer of Bioventus. “We determined that Esaote’s product line complements our existing products and is the best ultrasound solution for orthopaedic customers, based on capabilities, ease-of-use and value.”

“Working with Bioventus enables us to reach a broader U.S. audience, based on the close relationships Bioventus currently has with orthopaedic physicians,” said Claudio Bertolini, president of Esaote North America. “We’re excited to work with a company that is trusted by physicians and known for its strong commitment to the customer.”

Bioventus is offering Esaote’s MyLab® One and MyLab Five ultrasound systems, which come complete with musculoskeletal presets and key functionality including enhanced needle visualization that enables accurate placement of therapeutic injections. Bioventus will also offer Esaote’s MRI, the O-Scan, a novel imaging solution for health care practitioners focused on injuries of the extremity. For more information on Esaote’s products, please visit www.esaoteusa.com.

About Bioventus
Bioventus is a biologics company that delivers clinically proven, cost-effective products that help people heal quickly and safely. The company’s innovative products include market-leading devices, therapies and diagnostics that make it a global leader of active orthopaedic healing. 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.BioventusGlobal.com or follow the company on Facebook (www.facebook.com/bioventus) or Twitter (@BioventusGlobal or www.twitter.com/BioventusGlobal).

About Esaote North America, Inc.
Esaote North America, headquartered in Indianapolis, Indiana, is a leading manufacturer and distributor of portable and console-based ultrasound and MRI equipment in the U.S. Established in 1979, Esaote North America is part of the international Esaote Group, a global leader in the research, production and marketing of medical diagnostic equipment. Esaote is among the largest manufacturers of ultrasound systems worldwide and prides itself on achieving superior price-performance over competitors through its focus on only ultrasound and office-based MRI medical equipment.

For more information, visit www.esaoteusa.com.

###
MyLab is a registered trademark of Esaote, S.p.A.

 


Bioventus Selects the Netherlands for International Headquarters

Bioventus Selects the Netherlands for International Headquarters

DURHAM, N.C. – Bioventus LLC, a leader in active orthopaedic healing, announced today that it will establish its International Headquarters in the Netherlands, about 12 miles outside of Amsterdam in Hoofddorp. The company’s international operating company, Bioventus Coӧperatief U.A., recently signed a letter of intent to lease about 7,200 square feet of office space on the 15th floor of the South Tower (Zuidtoren).

Bioventus’ International Headquarters is expected to open in November following the build-out of the facility. The office will house employees supporting finance, customer care, operations, marketing, sales and human resources.

About Bioventus
Bioventus is a biologics company that delivers clinically proven, cost-effective products that help people heal quickly and safely. The company’s innovative products include market-leading devices, therapies and diagnostics that make it a global leader of active orthopaedic healing. 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.BioventusGlobal.com or follow the company on Facebook (www.facebook.com/bioventus) or Twitter (@BioventusGlobal or www.twitter.com/BioventusGlobal).

 


New Biologics Company Launches with Focus on Active Orthopaedic Healing

New Biologics Company Launches with Focus on Active Orthopedic Healing

Bioventus Delivers Solutions that Stimulate the Body’s Natural Healing Process

DURHAM, N.C. – Bioventus LLC, a new company providing active orthopaedic healing, launched today following the finalization of the strategic venture between the company’s owners, an Essex Woodlands led investor syndicate group and Smith & Nephew, the global medical technology business.

Headquartered in Durham, N.C., Bioventus grew out of Smith & Nephew’s former Biologics and Clinical Therapies division and includes nearly 500 U.S. employees from that group, as well as innovative and successful products to help accelerate bone healing and treat osteoarthritis pain. For the time being, employees outside of the U.S. will remain with Smith & Nephew and Smith & Nephew will distribute products on behalf of Bioventus outside of the U.S. This business will be transitioned to Bioventus over time as required legal and other approvals are obtained.

“For years, patients and healthcare providers have relied on our innovative products and our more than 250 customer-facing professionals who work directly with them to assist in providing quality care,” said Mark Augusti, chief executive officer of Bioventus. “As an independent company with the support and backing of Essex Woodlands and Smith & Nephew, we will now be able to focus attention and resources to more quickly deliver new solutions to market.”

The business was formed in 2008 as a division of Smith & Nephew and currently generates about $240 million in annual revenue worldwide.

“Our go-forward mission is to be the best in helping patients regain active lifestyles by providing clinically proven and cost effective orthopaedic diagnostics and therapies through our world-class, customer-led professionals,” Augusti added.

Experienced Leadership
Bioventus’ leadership team includes healthcare industry experts and experienced functional leaders. Most were previously with the Smith & Nephew Biologics Division and came from a variety of leading medical device, orthobiologic and pharmaceutical companies.

The team is led by Augusti, who built the Smith & Nephew Biologics business following successful roles as President of the company’s Orthopaedic Trauma & Clinical Therapies Global Business and Senior Vice President and General Manager of the Trauma business. He also previously held leadership positions at JPMorgan Securities and GE Medical Systems.

Augusti’s executive leadership team at Bioventus includes:

• Alan Donze, Vice President of Commercial Operations (Americas) – previously with Smith & Nephew, IsoTis Orthobiologics and Stryker Corporation

• Duncan Fatkin, Vice President of Global Marketing and Reimbursement – previously with Smith & Nephew, DePuy (a Johnson & Johnson company) and Baxter Healthcare

• Jeanne Forneris, Vice President and General Counsel – previously with American Medical Systems and Medtronic

• Peter Henderson, Vice President of Compliance – previously with Smith & Nephew, GE Healthcare, Roche Diagnostics and Guidant Sales Corporation

• Anthony James, Vice President of Operations and Quality – previously with Smith & Nephew and Spine Wave

• Walter Kwiatek, Chief Information Officer – previously with Smith & Nephew, Sterling Commerce (AT&T company), Wyeth Pharmaceuticals, BOC, and Pfizer Pharmaceuticals

• Leigh Ann Stradford, Vice President of Human Resources – previously with Smith & Nephew and Nike

• Henry Tung, Vice President of Strategic Planning and Business Development – previously with Smith & Nephew, Boston Scientific Corporation, Bausch & Lomb and McKinsey & Company

Successful Products
Bioventus will be aggressively seeking to expand its product portfolio, focusing on the orthopaedic biologics space. The company delivers highly successful products in the areas of bone healing and osteoarthritis pain relief. Products include:

• EXOGEN® Ultrasound Bone Healing System – indicated for the treatment of established non-unions* and indicated* fresh fractures. EXOGEN is developed and marketed by Bioventus in multiple countries around the world.

• SUPARTZ® – a joint fluid hyaluronic acid therapy for knee osteoarthritis (OA). SUPARTZ is developed by Seikagaku Corporation and marketed by Bioventus in the U.S. only.

• DUROLANE® – a single-injection joint-fluid treatment indicated for the treatment of OA pain in a variety of joints and for post-arthroscopic pain in selected joints.* DUROLANE is developed by Q-Med AB and currently marketed by Smith & Nephew in many countries outside the U.S. Bioventus expects to assume the marketing of DUROLANE from Smith & Nephew on June 1.

About Bioventus
Bioventus is a global leader of active orthopaedic healing, providing clinically proven and cost-effective therapies and diagnostics that help patients regain active lifestyles. The company’s innovative products include the market-leading bone stimulation device and osteoarthritis joint fluid therapies. Bioventus’ adherence to high quality standards, its commitment to evidence-based medicine and its strong ethical behavior makes it a trusted partner for physicians worldwide.

For more information, visit www.BioventusGlobal.com or follow the company on Facebook (www.facebook.com/bioventus) or Twitter (@BioventusGlobal or www.twitter.com/BioventusGlobal).

EXOGEN is a registered trademark of Bioventus LLC. SUPARTZ is a registered trademark of Seikagaku Corp. DUROLANE is a registered trademark of Q-Med AB.

*EXOGEN Summary of Indications for Use: The EXOGEN Ultrasound Bone Healing System is indicated for the non-invasive treatment of established non-unions† excluding skull and vertebra. In addition, EXOGEN is indicated for accelerating the time to a healed fracture for fresh, closed, posteriorly displaced distal radius fractures and fresh, closed or Grade I open tibial diaphysis fractures in skeletally mature individuals when these fractures are orthopaedically managed by closed reduction and cast immobilization. There are no known contraindications for the EXOGEN device. Safety and effectiveness has not been established for individuals lacking skeletal maturity; pregnant or nursing women; patients with cardiac pacemakers; on fractures due to bone cancer; or on patients with poor blood circulation or clotting problems. Some patients may be sensitive to the ultrasound gel. Full prescribing information can be found in product labeling, at www.exogen.com or by contacting customer service at 1-800-396-4325.

SUPARTZ is indicated for treatment of pain in osteoarthritis (OA) of the knee in patients who have failed to respond adequately to conservative non-pharmacologic therapy and simple analgesics, e.g., acetaminophen.

You should not use SUPARTZ if you have infections or skin diseases at the injection site or allergies to poultry products. SUPARTZ is not approved for pregnant or nursing women or children. Risks can include general knee pain, warmth and redness at the injection site. Full prescribing information can be found in product labeling, at www.supartz.com or by contacting customer service at 1-800-396-4325.

DUROLANE indications vary by market, but include the following: Symptomatic treatment of mild to moderate knee or hip osteoarthritis. In addition, DUROLANE has been approved in the EU for the symptomatic treatment associated with mild to moderate osteoarthritis pain in the ankle, shoulder, elbow, wrist, fingers, toes and temporomandibular and facet joints. DUROLANE is also indicated for pain following joint arthroscopy either in the presence of osteoarthritis or subsequent to general surgical repair within 3 months of the procedure.

There are no known contraindications. You should not use DUROLANE if you have infections or skin disease at the injection site. DUROLANE has not been tested in pregnant or lactating women, or children. Risks can include transient pain, swelling and/or stiffness at the injection site. Full prescribing information can be found in product labeling, at www.durolane.com or by contacting customer service at 1-800-396-4325.

 


Smith & Nephew to Form Biologics Joint Venture with Essex Woodlands

Smith & Nephew to Form Biologics Joint Venture with Essex Woodlands

Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, announces today that it has, through its subsidiaries (“Smith & Nephew”), agreed to form a joint venture with Essex Woodlands, a specialist healthcare growth equity and venture capital firm, to further develop its Biologics and Clinical Therapies division. The transaction is subject to obtaining required regulatory approvals and satisfaction of other customary conditions.

The new entity, called Bioventus LLC (“Bioventus”), will be 51% owned by Essex Woodlands and 49% by Smith & Nephew. In addition to this shareholding, Smith & Nephew will receive approximately $98 million cash, which will be used to pay down debt, and a $160 million 5-year note from Bioventus. Smith & Nephew will transfer the vast majority of its US Biologics team and Clinical Therapies business to Bioventus and, for the time being, Smith & Nephew will continue to distribute Clinical Therapies products outside of the US.

Commenting on the transaction, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said: “In a single act we have given our existing Biologics business the resources to address longer-term development projects, retained access to the exciting area of orthobiologics, realised value for reinvestment in nearer-term opportunities, and freed up management resource to focus on driving efficiencies in established markets. Essex Woodlands are strong partners and the joint venture will benefit from their significant expertise in developing healthcare businesses.”

Bioventus will continue to market its current portfolio of products, including the EXOGEN◊ Ultrasound Bone Healing System and joint fluid therapy, and will seek to add further offerings. Smith & Nephew and Essex Woodlands are committed to investing a significant proportion of Bioventus’ cash flow into R&D over the next five years. The business will continue to be headquartered in Durham, North Carolina and the existing management team, led by its current President, Mark Augusti, will transfer to Bioventus. Smith & Nephew will retain its research facility at York, UK.

Marty Sutter, Founding Partner and Managing Director of Essex Woodlands said, “We see tremendous growth potential with this new venture as more patients discover how active products can help heal and treat joint and bone ailments without invasive surgery. Smith & Nephew has built an excellent business and we are excited about the prospect of working with the management team on the next phase of growth as it brings more active therapeutic products to market.”

In 2010 Smith & Nephew’s Biologics and Clinical Therapies business generated a trading profit of $44 million on revenues of $223 million (of which $33 million came from sales outside of the US) and as at 1 October 2011 had unaudited gross assets of $121 million. The transaction is expected to be completed in the next few months and will be modestly earnings dilutive.

Ondra Partners is serving as financial advisor, and Davis Polk & Wardwell LLP is serving as legal advisor, to Smith & Nephew on the transaction.

About Smith & Nephew
Smith & Nephew is a global medical technology business with global leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine, Trauma and Clinical Therapies. The Company has distribution channels, purchasing agents and buying entities in over 90 countries worldwide. Annual sales in 2010 were nearly $4.0 billion.
Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust.

About Essex Woodlands
With $2.5 billion under management, Essex Woodlands is one of the largest and oldest growth equity and venture capital firms pursuing investments in pharmaceuticals, biotechnology, medical devices, health care services, and health information technology. Since its founding in 1985, Essex Woodlands has maintained its singular commitment to the health care industry and has been involved in the founding, investing, and/or the management of over 120 health care companies ranging across all sectors, stages and geography. The team is comprised of 25 senior investment professionals with offices in Palo Alto, Houston, New York and London. For more information, please see www.ewhv.com.

Forward-looking Statements
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith & Nephew, these factors include: economic and financial conditions in the markets we serve, especially those affecting health care providers, payors and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; strategic actions, including acquisitions and dispositions, our success in integrating acquired businesses, and disruption that may result from changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business or competitive nature. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20-F, for a discussion of certain of these factors.

Any forward-looking statement is based on information available to Smith & Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith & Nephew are qualified by this caution. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith & Nephew's expectations.

◊ Trademark of Smith & Nephew. Certain marks registered US Patent and Trademark Office.