MISSOULA, Montana—Venture Medical, LLC, a provider of wound care solutions, announced its acquisition of certain assets of ProgenaCare Global, LLC, a biotechnology company known for its keratin-based wound healing technologies, including ProgenaMatrix and intellectual property underlying an expected future product line.
This acquisition marks a milestone in Venture Medical's mission to deliver wound care solutions to providers across the country. By integrating ProgenaCare's proprietary keratin platform, Venture Medical enhances its advanced therapy portfolio with regenerative technologies that accelerate healing and improve outcomes for patients with chronic and hard-to-heal wounds. Howard Walthall, former CEO of ProgenaCare, has also joined Venture Medical as senior vice president of product development.
"Venture Medical is at the forefront of patient-centered innovation," said Bert Jones, chairman of the board of ProgenaCare Global. "Between their comprehensive product formulary and proprietary Venture OneView platform, they are positioned to become a nationwide leader in the wound care space. We are excited to see our mission continue with a company that shares our values and has the infrastructure to scale our impact."
"ProgenaCare has long stood for integrity, science and healing—all values that align seamlessly with Venture Medical," said John Schroeder, CEO of Venture Medical. "With Howard Walthall on board and these technologies in our portfolio, we're positioned to elevate the standard of care and improve patient outcomes in ways that are both clinically meaningful and beneficial to the industry as a whole."
The acquisition includes full rights to ProgenaMatrix, the first and only keratin matrix cleared by the FDA for wound management, and contractual rights to distribute revyve, an advanced antimicrobial hydrogel. Both products are now available through Venture Medical's extensive distribution network.