Bioretec Ltd invests in a CNC machining center to increase the RemeOs™ production capacity
TAMPERE, Finland, June 13, 2023 /PRNewswire/ -- Bioretec Ltd, a pioneer in bioresorbable orthopedic implants, has acquired a new CNC machining center to increase the production capacity of RemeOs™ products at its factory in Tampere, Finland. The acquired machine is optimized for the production of magnesium-based implants and especially for the first product from the RemeOs™ product family, the RemeOs™ screw, which was granted market authorization in the U.S. in March 2023.
"The new CNC machining center will significantly increase our production capacity of RemeOs™ screws for the U.S. market. We estimate the commissioning of the machine to take place at the beginning of next year considering the current delivery time of 5-6 months. The addition of our own machining center for RemeOs™ products will also enhance the production of our Activa implants," comments Bioretec CEO Timo Lehtonen.
Timo Lehtonen, CEO, tel. +358 50 433 8493
Johanna Salko, CFO, tel. +358 40 754 8172
Bioretec in brief
Bioretec is a globally operating Finnish medical device company that continues to pioneer the application of bioresorbable orthopedic implants. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.
Bioretec is developing the new RemeOs™ product line based on a magnesium alloy and hybrid composite, introducing a new generation of strong bioresorbable materials for enhanced surgical outcomes. The RemeOs™ implants are resorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The combination has the potential to make titanium implants redundant and help clinics reach their Value-Based Healthcare targets while focusing on value for patients through efficient healthcare. The first RemeOs™ product market authorization has been received in the U.S. in March 2023 and in Europe, CE-mark is expected to be received during 2023. Bioretec is positioning itself to enter the addressable USD 7 billion global orthopedic trauma market and become a game changer in surgical bone fracture treatment.
Better healing - Better life. www.bioretec.com
Company Codes: Helsinki:BRETEC, ISIN:FI4000480454