Bioventus Inc. (NASDAQ: BVS) has announced the completion of the divestiture of its advanced rehabilitation business to Accelmed Partners, a private equity firm. The transaction, which was announced on October 1, 2024, has enabled Bioventus to focus on its core businesses while delivering approximately $20 million in net closing proceeds to enhance liquidity.
In the press release, specific financial metrics were not provided. However, it's essential to note that divesting the advanced rehabilitation business will likely have an impact on Bioventus' financials. This could potentially be reflected in upcoming financial statements, particularly in metrics such as revenue, operating income, and net income.
In the absence of specific financial figures, we can anticipate changes in the company's financial metrics in the next reporting period as a result of the divestiture. This could provide insights into how the transaction has affected Bioventus' financial performance, liquidity, and overall business focus. Following these announcements, the company's shares moved -1.8%, and are now trading at a price of $10.44. For more information, read the company's full 8-K submission here.
