Bioventus, an orthopedic products producer, will invest $5 million to lease 40,000-square-foot of new office and manufacturing space in Memphis, Tenn., creating an estimated 44 jobs.
In May Bioventus formed as a strategic venture between Essex Woodlands and Smith & Nephew. The company occupies space at Smith & Nephew’s Brooks Road and Holmes Road locations. The move to 1900 Charles Bryan Road, off Goodlett Farms Parkway, enables Bioventus to consolidate its Memphis functions, including operations, manufacturing, quality and human resources.
“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, Bioventus, said. “The site is also strategically located near major transportation hubs, enabling us to provide rapid and cost-effective service for our customers.”
“It speaks volumes for our state’s business friendly environment when Tennessee companies decide to expand right where they are,” Commissioner Bill Hagerty said. “The additional jobs Bioventus will create are the types of quality jobs that our economy needs. Congratulations to the company on its continued success in Memphis.”
Bioventus currently has about 500 U.S. employees including approximately 130 in Memphis. The company is actively recruiting and hiring for a variety of positions including manufacturing, quality engineering, customer service, information technology, finance and distribution.