News We’re Watching: Cancer Screening Partnership, New Abbott Electrophysiology Head, V-Champs AI Challenge

This week, Bioventus announced plans to sell its wound business; Pfizer and Thermo Fisher Scientific partnered to increase cancer screening access; and the FDA expanded the magnetic resonance imaging labeling for Abbott’s Eterna spinal cord stimulator.

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• Source: Medtech Insight

Bioventus Inc. announced it signed a definite agreement to sell its wound care business to LifeNet Health for about $85m. The deal includes a total cash consideration of $85m, including $35m in cash at close, $5m cash payment deferred 18 months and $45m in potential earn-out payments, Bioventus announced on 10 May. At the time of closing, Bioventus said it expects to net about $30m after fees and expenses, which it intends to use to repay existing debt. The deal is expected to close before the end of May, Bioventus said.

“The sale of our wound business will enhance our liquidity and enable a greater focus on execution,” said Tony Bihl,...

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