CASE STUDY: BIOVENTUS INC.

For Bioventus, accuracy
equals credibility.

ActiveDisclosure helps privately held Bioventus maintain the necessary controls to report to a public standard while bringing deeper accuracy to MD&A documents, debt covenants and SOX reporting.

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With more robust SEC-level reporting, we now have best practices firmly in place if management wants to seek public funding.

Corrie Rittenhouse, Senior Financial Analyst, Bioventus Inc.

Physicians count on bone healing, bone graft and knee osteoarthritis products from Bioventus that engage and enhance the body’s own healing process. Although Bioventus is not a public company, Adriana Polcaro, Director of Finance, and Corrie Rittenhouse, Senior Financial Analyst, have used ActiveDisclosure to ensure their financial communications are at SEC reporting levels.

A global leader in orthobiologics, Bioventus chose ActiveDisclosure to bring new speed and accuracy to MD&A documents, debt covenants and SOX reporting.

Numbers to count on

“We use ActiveDisclosure for our MD&A and 10-Q,” says Polcaro. “It has added speed and credibility to our debt covenants as well. ActiveLink automated updating has practically eliminated manual labor and the potential for error. Which means we can also be more confident in the accuracy of last-minute changes – which has made our CFO very happy. It’s also given our reporting added credibility.”

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Using ActiveDisclosure, we save about 20 hours per quarter. That’s two to three working days.

Corrie Rittenhouse, Senior Financial Analyst, Bioventus Inc.

Bioventus logo

Controls that reduce errors

“Well, we’ve implemented SOX. We’re in a position now where we have the controls we need for our management to be able to opine that the controls are in place and that there are no material misstatements. And one of those controls is to have our financial statements in such a way that they can be easily reviewed, and that the review can be documented, which ActiveDisclosure allows,” says Polcaro.

Reduced labor; added value

“The automatic refreshing and roll-forward feature saves us enough time to step back and see the big picture,” says Rittenhouse. “It removes the non-productive step of populating the data and lets us go straight to the review so I can show Adriana a ‘proofed’ document that she can evaluate as a whole.” Polcaro adds: “It’s nice to have everything integrated into a single cohesive file with visibility into who has modified it and when.”

Why choose ActiveDisclosure?

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Win back your time

Brings new speed and accuracy to MD&A documents, debt covenants and SOX reporting.

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Use familiar tools

Automated updating now links Microsoft Word, PowerPoint and Excel documents.

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Coordinate with your team

Multiple parties can co-author in real time so that they can finish sooner.

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