Medical devices maker Smith and Nephew said that its Bioventus joint venture with Essex Woodlands is now up and running.
Essex Woodlands, a specialist healthcare growth equity and venture capital firm, pitched in with Smith & Nephew (S&N) to further develop the S&N's Biologics and Clinical Therapies division.
The alliance was announced at the beginning of the year but was subject to obtaining required regulatory approvals and satisfaction of other customary conditions.
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Essex Woodlands owns 51% of Bioventus with the rest owned by S&N.
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