Charles Sternberg, Associate Editor08.15.22
Bioventus Inc. has reported financial results for the three and six months ended July 2, 2022.
Net sales were $140.3 million compared to $109.8 million for the second quarter of 2021, an increase of $30.5 million, or 27.8%, year-over-year, primarily due to acquisitions. International net sales for the second quarter of 2022 increased 25.9% year-over-year, or 34.0% on a constant currency basis.
"Our team achieved strong growth in the second quarter and continued to make meaningful progress with our integration plans from our recent acquisitions. We continue to drive above market growth and market share gains across our pain treatments and surgical solutions businesses as we look to meet our goal of total double digit organic business growth for the year," commented Ken Reali, Bioventus’ CEO. "We are encouraged by the sustained momentum across our key short- and mid-term growth drivers and believe our recently completed acquisition of CartiHeal, a breakthrough product for cartilage repair, will bolster our mid-term growth."
For the twelve months ending December 31, 2022, the company now expects net sales of $547.5 million to $562.5 million, representing year-over-year growth of approximately 27% to 31%.
Net sales were $140.3 million compared to $109.8 million for the second quarter of 2021, an increase of $30.5 million, or 27.8%, year-over-year, primarily due to acquisitions. International net sales for the second quarter of 2022 increased 25.9% year-over-year, or 34.0% on a constant currency basis.
"Our team achieved strong growth in the second quarter and continued to make meaningful progress with our integration plans from our recent acquisitions. We continue to drive above market growth and market share gains across our pain treatments and surgical solutions businesses as we look to meet our goal of total double digit organic business growth for the year," commented Ken Reali, Bioventus’ CEO. "We are encouraged by the sustained momentum across our key short- and mid-term growth drivers and believe our recently completed acquisition of CartiHeal, a breakthrough product for cartilage repair, will bolster our mid-term growth."
For the twelve months ending December 31, 2022, the company now expects net sales of $547.5 million to $562.5 million, representing year-over-year growth of approximately 27% to 31%.