BioVentus can’t close on CartiHeal and let’s CartiHeal go.
Tough times at BioVentus.
After a terrible Q4 (read financial summary here) and booting out their CEO, Ken Reali, of three years, BioVentus decided that the CartiHeal acquisition was not worth the debt, so they did not close on the deal.
Buried in the financials is this statement…
After delaying the CartiHeal acquisition then revising the terms of the CartiHeal acquisition, Bioventus finally backs out for good.