Bioventus Invests in Trice Medical

Global medical technology leader Bioventus, Inc. has announced a strategic investment in Malvern, Pennsylvania-based ortho tech company Trice Medical, Inc. In connection with its investment, Bioventus has entered into a sales, distribution, and co-development agreement with Trice, with plans to explore and co-develop innovative peripheral nerve stimulation (PNS) products like TalisMann and StimRouter.

Bioventus Senior Vice President of Business Development & Strategy Chris Yamamoto said of the investment, “Trice’s established and growing presence in sports medicine and orthopedics is directly aligned with our strategy of expanding our offerings across these core Bioventus call points.” Yamamoto continued, “Our investment will not only fund the ongoing growth of Trice, but also is expected to allow both companies to further validate the merits of a combination.”

Trice Medical, founded in 2011, focuses on developing and marketing minimally invasive orthopedic surgical and sport medicine technologies, including portable ultrasound visualization and handheld arthroscope technologies. Conditions treated by Trice Medical include carpal tunnel, plantar fasciitis, and tendinopathy, with an emphasis on providing patients with reducing pain, scarring, recovery time, and cost. Other investors in Trice Medical include BioStar Ventures, HealthQuest Capital, and Safeguard.

As part of the agreement, Bioventus will lead the Series D funding round and also receive product sales and distribution rights to Trice’s products outside of the United States. Yamamoto has also been added to the Trice Medical Board of Trustees in connection with the investment agreement.

Founded in 2012, Bioventus provides high quality, ethical and evidence-based yet cost-effective technology for bone graft, joint preservation, pain treatment and restorative therapies. Bioventus is headquartered in Durham, North Carolina with offices in Memphis, Tennessee; Valencia, California; Hod Hasharon, Mississauga, Israel; Ontario, Canada and international headquarters in Hoofddorp, The Netherlands. Bioventus operates in 30 countries and employs over 850 people worldwide.

Details of the investment were not publicly disclosed.