Discontinued Operations

9 Months Ended

Sep. 28, 2024

Discontinued Operations and Disposal Groups [Abstract]

On February 27, 2023, the Company reached a Settlement Agreement with the Former Securityholders of CartiHeal that resulted in the transfer of 100% of the Company’s shares in CartiHeal to a Trustee. Refer to Note 3. Acquisitions and divestitures for further details concerning the Settlement Agreement and the deconsolidation of CartiHeal. CartiHeal had no sales during the year ended December 31, 2023.

The following table summarizes the major income and expense line items of these discontinued operations, as reported in the consolidated statements of operations for the nine months ended September 30, 2023 as there was no activity for discontinued operations subsequent to the first quarter of 2023:


	Nine Months Ended
		September 30, 2023



Selling, general and administrative expense		$	1,728
Research and development expense		396
Change in fair value of contingent consideration(a)		1,710
Depreciation and amortization(a)		4,264


Operating loss from discontinued operations		(8,098)
Interest expense, net		4,889
Other expense(b)		61,442
Other expense		66,331
Loss before income taxes		(74,429)
Income tax benefit, net		—
Net loss from discontinued operations		(74,429)
Loss attributable to noncontrolling interest - discontinued operations		14,937
Net loss attributable to Bioventus Inc. - discontinued operations		$	(59,492)

(a)Depreciation and amortization and the change in fair value of contingent consideration represents the significant operating non-cash items of discontinued operations.

(b)Other expense includes the $60,639 loss on deconsolidation, of which $10,150 was attributable to non-refundable payments. Total investing cash outflows included these non-refundable payments and $1,356 cash on hand at disposal.