Sam Brusco, Associate Editor08.10.22
CONMED has completed the deal for privately-held Biorez that it announced last week.
The transaction is valued at up to $250 million: $85 million with up to $165 million in growth-based earnout payments over four years.
Biorez is a startup based in New Haven, Conn. that is focused on soft tissue healing using its BioBrace implant, which was cleared by the U.S. Food and Drug Administration (FDA) last June in two sizes.
The innovative, bioinductive BioBrace scaffold aims to reinforce soft tissue where weakness is present and facilitate healing. BioBrace features a highly porous collagen matrix and resorbable PLLA microfilaments that help reinforce tendon and ligament repairs, as well as promote healing. The resorbable implant is naturally broken down by the body.
The transaction is valued at up to $250 million: $85 million with up to $165 million in growth-based earnout payments over four years.
Biorez is a startup based in New Haven, Conn. that is focused on soft tissue healing using its BioBrace implant, which was cleared by the U.S. Food and Drug Administration (FDA) last June in two sizes.
The innovative, bioinductive BioBrace scaffold aims to reinforce soft tissue where weakness is present and facilitate healing. BioBrace features a highly porous collagen matrix and resorbable PLLA microfilaments that help reinforce tendon and ligament repairs, as well as promote healing. The resorbable implant is naturally broken down by the body.