Global medical technology company Bioventus Inc. has announced that it is doubling its current Memphis, Tennessee-based operations and manufacturing space, which will also require the firm to move to a new location.
Bioventus, headquartered in Durham, North Carolina, provides physicians and surgeons with products which “engage and enhance the body’s natural healing processes.” These “active healing” products include restorative therapies, pain treatments, and surgical solutions.
Bioventus’ new Memphis facility, which will now be located on Goodlett Farms Parkway in Cordova, Tennessee, will have 90,000 square feet of space, a majority of which, 55,000 square feet, will be used for light manufacturing and operations. Bioventus will utilize the rest of the space for offices, conference rooms, and shared workspaces.
In the press release, Bioventus Senior Vice President of Operations Miguel Beltran-Delgado said, “As we revised our operational plan in alignment with the Company’s strategy, we determined that the expansion of our Memphis location would be required to manage our organic growth, vertical integration of key manufacturing capabilities and our additional growth through acquisitions.”
Beltran-Delgado continued, “We are very pleased we could identify and secure this new location, which is right across the way from our current site, minimizing the disruption to our employees and customers, while meeting our near- and long-term operations and manufacturing needs.”
Bioventus anticipates that its 116 employees will transition to the new space early in the third quarter of 2022. Additionally, over the next five years, the company plans to add 40 more jobs.
OTW spoke with Bioventus Spokesperson Thomas Hill about the company’s goals for the upcoming year. Hill told OTW, “Our focus for 2022 will be the integration of Misonix and moving from our current location in Memphis to our new location as we expand our operations to support the organic growth from our business and new growth from the 2021 acquisitions of both Misonix and Bioness.”
For OTW’s coverage of the recent acquisitions, see “Bioventus To Acquire Misonix for Approx. $500 Million” and “Bioventus Acquires Bioness.”
