Bioventus Announces $5 Million Expansion and New Jobs
11/20/2012 6:59:40 AM
Medical manufacturer Bioventus LLC announced a $5 million expansion project in Cordova that will result in 44 new jobs. In a joint release issued by Bioventus and the Tennessee Department of Economic and Community Development, the company detailed plans to lease 40,000 square feet of new office and manufacturing space at 1900 Charles Bryan Road. It plans to move into the space in February 2013. Bioventus is a joint venture between device manufacturer Smith & Nephew Inc. (NYSE: SNN) and venture capital firm Essex Woodlands; it launched in May 2012. Bioventus presently occupies space at Smith & Nephew’s Brooks Road and Holmes Road locations. “Combining our functions in a single location not only provides facility cost benefits, but also increases our efficiency in terms of staff management and communications,” Anthony James, vice president of operations and quality for Bioventus, said in a release.