Bioventus completed a strategic investment in Trice Medical, a company focused on developing and commercializing minimally invasive technologies for sports medicine and orthopedic surgical procedures. In conjunction with Bioventus leading the Series D funding round, the Bioventus will receive exclusive sales and distribution rights to Trice’s products outside of the U.S.
Bioventus and Trice also agreed to enter into a co-development arrangement to explore the integration of Trice technologies with Bioventus’ current and future peripheral nerve stimulation (PNS) offerings of StimRouter® and TalisMann™ to accelerate adoption of both companies’ products.
Trice combines their handheld arthroscope and portable ultrasound visualization technologies with differentiated surgical devices to treat a range of sports medicine and orthopedic conditions, including tendinopathy, planter fasciitis and carpel tunnel, to improve patient recovery time, reduce pain, minimize scarring and move surgical procedures out of higher cost points of care.
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.
“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.”