Bioventus Inc. (Nasdaq: BVS) (“Bioventus” or the “Company”), 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 (“DFU”) wound healing therapy.
Vaporox founded in 2016, is based in Denver, Colorado and has developed a patented, ultrasonic technology, Vaporous Hyperoxia TherapyTM (“VHT”), 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.