Trice Medical Receives Investment and International Distribution Partnership from Bioventus, Inc.
Malvern, PA (August 26th, 2021) – Trice Medical announced today that it received a strategic investment from Bioventus Inc. (Nasdaq: BVS), a global leader in innovations for active healing. In conjunction with leading the Series D funding round, Bioventus will receive exclusive sales and distribution rights to Trice’s products outside of the US. Bioventus and Trice have also agreed to enter into a co-development arrangement to explore the integration of Trice technologies with certain Bioventus offerings in order to accelerate adoption of both companies’ products.
Trice Medical is known for its disruptive imaging technology that enables orthopedic procedures to be done on its portable, tablet-based system. Trice developed the world’s first and only platform that combines a disposable needle camera (mi-eye™) with a high-quality ultrasound transducer (mi-ultra™). In 2019, Trice acquired Seg-WAY™ Orthopedics, where their endoscopic carpal tunnel release system was made fully disposable and combined with mi-eye™, became the first company in the world to enable surgeons to perform this procedure anywhere: in the operating room, a procedure room, or the office. In April 2021, Trice acquired Tenex Health, a leader in minimally invasive ultrasonic technology for the treatment of chronic pain in soft and hard tissue. The Tenex Health TX® technology helps improves overall functionality and significantly decrease pain by removing the damaged soft tissue, calcifications, and bone spurs.
“We are thrilled to have Bioventus on the Trice Team! Our missions are completely aligned. We are looking forward to helping them bring the Trice family of products to the international community and working together to leverage Trice’s core competencies to build unique products for their customers,” said Mark Foster, CEO and President of Trice Medical.
“Trice’s established and growing presence in sports medicine and orthopedics is directly aligned with our strategy of expanding our offerings across these core Bioventus call points,” said Chris Yamamoto, Senior Vice President of Business Development & Strategy, Bioventus. “Our investment will not only fund the ongoing growth of Trice, but also is expected to allow both companies to further validate the merits of a combination.”
About Trice Medical:
At Trice Medical, we continuously strive to improve physician experience and patient outcomes by delivering cutting-edge, minimally invasive imaging solutions for faster diagnosis and recovery. We are consistently developing new products to enhance our portfolio and partnering with experts in the medical field to deliver the latest advancements in diagnostic and surgical care. To learn more about Trice Medical, headquartered in Malvern, PA, visit www.tricemedical.com.
Contact:
Trice Medical
(610) 989-8080
press@TriceMedical.com