LifeNet Health acquires best-in-class wound care portfolio
The acquisition of Bioventus Inc.’s wound care division includes all its dedicated professionals
Virginia Beach, Va. (May 10, 2023) – LifeNet Health expands its portfolio of wound care solutions, adding revolutionary products such as TheraSkin®, with the acquisition of the Bioventus Inc. wound care division. This step strengthens LifeNet Health’s position as a global leader in regenerative medicine offering next-level wound care.
“Non-healing wounds are a modern healthcare crisis,” said LifeNet Health President and CEO Rony Thomas. “Our goal is to continue reimagining wound care through increased access to best-in-class wound care products that are both clinically effective and affordable, helping patients recover and avoid amputation and poor health outcomes.”
Chronic wounds affect over 8 million Americans at an estimated cost of at least $28 billion.1 Examples include diabetic foot ulcers, surgical wounds, pressure ulcers, burns, and wounds following trauma. This acquisition will enable LifeNet Health to help more of these patients through expanded clinical use of its existing and new wound care products. One example is TheraSkin, an innovative limb-saving human-to-human allograft that has supported healing in more than 100,000 patients with chronic wounds. TheraSkin’s clinical and cost-effectiveness is supported by extensive peer-reviewed published clinical evidence including most recently a randomized clinical trial that shows TheraSkin significantly improves wound healing by supporting wound closure at a faster rate than the standard of care.2
LifeNet Health has been producing TheraSkin since 2010, but Bioventus Inc. has served as the distribution channel. With the acquisition, LifeNet Health’s dedicated and successful team is set to become even more impactful, as it gains 90 Bioventus Inc. employees. The strong foundation established by the existing team combined with the addition of the expanded portfolio and support will allow the organization to elevate its wound care operations to the next level.“The new members of our wound care team are talented professionals, and we know they will be a strong match for our culture, which is devoted to performing at the highest level for each other and for the patients and physicians we serve,” Thomas said.
“We’re immensely proud of every member of the team joining LifeNet and appreciative for all they’ve contributed to Bioventus,” said Anthony Bihl, Bioventus Inc. Interim CEO. “We have laid the groundwork for this team’s smooth transition to ensure they are in a strong position to support LifeNet Health’s admirable mission to expand access to wound care.”
TheraSkin and two other products from the company – Theragenesis® and SonicOne® – will strengthen LifeNet Health’s unique portfolio of skin tissue biologics and regenerative medicine products, including Dermacell AWM® and Matrion®. These unmatched wound care solutions will serve patients across the continuum – in clinics, operating rooms, and physicians’ offices.
“I’ve been using TheraSkin for over a decade to support healing my patients’ wounds – it is the best tissue wound care solution product available to physicians,” said Adam Landsman, DPM, PhD, an Assistant Professor of Surgery at Harvard University School of Medicine, and a podiatrist in the Department of Orthopedic Surgery at Massachusetts General Hospital. “Now, LifeNet Health has brought together TheraSkin with its other best-in-class skin wound care solution products to help physicians and nurses heal their patients’ chronic wounds. But just as important, the not-for-profit aspect of LifeNet Health will put the patient and provider first to ensure that the gift of tissue by a donor is used clinically effectively and ethically to promote real solutions to the healthcare crisis of treating and healing chronic wounds.”
Source
1. Samuel R. Nussbaum, Marissa J. Carter, Caroline E. Fife, Joan DaVanzo, Randall Haught, Marcia Nusgart, Donna Cartwright. An Economic Evaluation of the Impact, Cost, and Medicare Policy Implications of Chronic Nonhealing Wounds. Value in Health, Volume 21, Issue 1, 2018. ISSN 1098-3015. https://doi.org/10.1016/j.jval.2017.07.007.
2. Armstrong DG, Galiano RD, Orgill DP, Glat PM, Carter MJ, DiDomenico LA, Reyzelman AM, Zelen CM. Multi-centre prospective randomized controlled clinical trial to evaluate a bioactive split thickness skin allograft versus standard of care in the treatment of diabetic foot ulcers. Int Wound J. 2022 Jan 26. doi: 10.1111/iwj.13759. Epub ahead of print. PMID: 35080127.
About LifeNet Health
LifeNet Health helps save lives, restore health, and give hope to thousands each year. It is the world's most trusted provider of transplant solutions — from organ procurement to bio-implants and cellular therapies — and a leader in regenerative medicine. LifeNet Health is committed to honoring the donors and healthcare professionals who enable healing.