Bioventus Expands in Memphis, Appoints CFO
It’s a time of new beginnings at Bioventus LLC. The Durham, N.C.-based orthopedic technology company has found itself new manufacturing space and a new chief financial officer (CFO). The firm recently signed a lease for office/manufacturing space in Memphis, Tenn., and announced the appointment of David Price as its new CFO.
The new 40,000-square-foot location—expected to be fully operational by February—will house all the company’s Memphis functions in one location. The city is a traditional transportation and communication hub. housing an international airport, FedEx headquarters, and some of the nation’s most heavily-travelled highways.
Bioventus is a young company, formed earlier this year from Smith & Nephew’s Biologics division. The company’s main products are the Exogen ultrasound bone healing system, Supartz joint fluid therapy, and the Durolane hyaluronic acid injection for the treatment of osteoarthritis.
Price is the company’s first CFO, and he joined Bioventus from Edgar Online Inc.—a financial data, technology, and business process outsourcing (BPO) company. There, he served as CFO, chief operating officer, and corporate treasurer. During his two years with the company, Price managed a team of more than 300 workers with responsibilities that included all financial strategy and reporting, investor relations, corporate development, human resources, and BPO operations.
Prior to joining Edgar Online, Price served as CFO and executive vice president of finance, corporate treasurer for Cornerstone Therapeutics Inc., a Cary, N.C.-based specialty pharmaceutical company. While at Cornerstone, he was named Ernst & Young CFO of the Year in 2009 for small public companies.
Price also has served as managing director in the healthcare sector at two investment banking firms— Jefferies & Company Inc. in New York, N.Y., and Bear Stearns & Co. Inc. in London, United Kingdom, and New York—and worked at PricewaterhouseCoopers Consulting, Arthur Andersen and Lex Service plc. He holds an honors degree in accounting and financial management from Lancaster University in the United Kingdom and is a member of the Institute of Chartered Accountants in England and Wales.
“David has a proven track record as a CFO in the finance and healthcare sectors, where he has significantly improved financial operations and positioned companies for long-term success,” said Mark Augusti, CEO of Bioventus. “We’re confident in David, and know that his leadership on our executive team will help propel us forward.”