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New Bioventus hits the ground hiring in Durham Business NewsObserver. <a>wow gold</a> <a>wow gold</a> comA new $200-million-plus company spun off from medical technology giant Smith and hiring. Bioventus, which debuted Monday, has nearly 500 U.S. employees and intends to soon begin the process of adding about 50 additional employees, including about 20 at its headquarters off of Emperor Boulevard, said spokesman Mike Truell. Bioventus currently has 60 workers in Durham, including a management team led by CEO Mark Augusti, who previously headed the biologics and clinical therapies division at Smith Essex Woodlands, a health care investment firm with $2.5 billion under management for funds to further expand through acquisitions. What is now Bioventus reaped about $240 million in revenue in 2011, up from $223 million in 2010. The companys top seller is Exogen, an ultrasound system that accelerates the healing of fractured bones. It also sells two injectable medicines for osteoarthritis, or degenerative joint disease: Supartz, for knee pain, and Durolane, for pain in a variety of joints. Durolane is not available in the U.S., and Bioventus expects to take over the marketing of it overseas from Smith More nimble, more innovative Its not Smith said Marty Sutter, managing director and co-funder of Essex Woodlands. This is a wonderful opportunity where a larger company recognizes that, sometimes, a smaller company will be more nimble, more innovative. Bioventus will be investing more money in research and development, Sutter said. But over the next five years he expects the majority of innovation to come from acquiring technology or acquiring companies. Augusti participated in the decision to locate the biologics and clinical therapies division in Durham in 2008, a decision he said was influenced by the talented local workforce and the favorable business environment. <a>wow gold</a> I can tell you that it was not solely because Im a Duke graduate, he joked. Augusti, 46, majored in computer science and economics at Duke and also received an MBA from UCLA. xboter 2014

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