Bioretec Oy and its largest shareholder, Stephen Industries Inc Oy, are donating biodegradable implants and instruments used in orthopedic surgeries to Ukraine for use in approximately 900 surgeries. The aid is based on a request from the Orthopedic Trauma Hospital in Kyiv, and the delivery is coordinated by the Finnish and Ukrainian authorities.

 "The war, which has been going on for almost two years, has caused a huge amount of human suffering in Ukraine. With the donation, we want to show our support for Ukrainians and the independence of Ukraine", says Kustaa Poutiainen, chairman of the board of Stephen Industries Inc Oy.

The Finnish company Bioretec Oy is a pioneer in the development of biodegradable implants. One advantage of the usage of the product is, that the implants do not have to be removed, which reduces the overall need for surgery.

"Ukraine is in need of many kinds of assistance and its healthcare is working at its limits. As a manufacturer of biodegradable orthopedic implants, we can support Ukraine by donating our products, which eliminate the need for implant removal surgeries, increasingly allocating the resources of the medical staff to acute treatment," says Timo Lehtonen, CEO of Bioretec Oy.

Further enquiries

Timo Lehtonen, CEO, +358 50 433 8493
Johanna Salko, CFO, +358 40 754 8172

Information about Bioretec

Bioretec is a globally operating Finnish medical device company that continues to pioneer the application of biodegradable 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 biodegradable materials for enhanced surgical outcomes. The RemeOs™ implants are absorbed 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 the first quarter of 2024. Bioretec is positioning itself to enter the addressable over USD 7 billion global orthopedic trauma market and to become a game changer in surgical bone fracture treatment.

Better healing - Better life. www.bioretec.com (https://bioretec-my.sharepoint.com/personal/johanna_salko_bioretec_com/Documents/Desktop/Tiedottaminen/Yhtiötiedotteet/26.4.2023/www.bioretec.com)