BRETECNasdaq HelsinkiMedical DevicesIFRS · EUR

Bioretec Oy

Bioretec is a Finnish medical device company that develops and manufactures absorbable orthopedic implants for adult and pediatric fracture fixation. Its product families, Activa and RemeOs™, are designed to support bone healing and then gradually dissolve, reducing the need for implant removal surgery. The company is headquartered in Tampere, Finland, with subsidiaries in Austria and the United States, and sells its products internationally.

Revenue3.5m EUR
−22.5 %y/y
Operating profit (EBIT)-8.7m EUR
−106.7 %y/y
EBIT margin-246.6%
−154.2 ppy/y
Net income-9.5m EUR
−105.5 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

-10-505m EUR2022: 2.9 m EUR2022: EBIT -2.3 m EUR20222023: 3.9 m EUR2023: EBIT -3.0 m EUR20232024: 4.5 m EUR2024: EBIT -4.2 m EUR20242025: 3.5 m EUR2025: EBIT -8.7 m EUR2025TTM 2026: 3.8 m EURTTM3.8
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year

Business

Share of revenue
RemeOs™ absorbable metal implants45 %

Magnesium alloy orthopedic implants designed to provide fixation and then absorb over time.

Activa polymer implants40 %

Self-reinforced PLGA-based absorbable implants used in orthopedic procedures.

Orthopedic trauma fixation products10 %

Implants and screws used in trauma and fracture repair applications.

Clinical and commercialization support5 %

Training, surgeon education, and market development activities tied to product adoption.

Customers

Bioretec sells to hospitals, surgeons, and healthcare systems that perform orthopedic procedures and need fixation devices for fracture healing. The company’s products are used in adult and pediatric orthopedics, with adoption driven by clinical performance, surgeon preference, and the desire to avoid removal surgery. Distribution partners and direct sales channels also matter because they help place the products into local healthcare markets.

Hospitals and surgical centers

Buy absorbable implants for trauma and fracture fixation procedures.

Orthopedic surgeons

Select Activa and RemeOs™ products based on handling, healing, and removal-avoidance benefits.

Pediatric orthopedics

Uses absorbable fixation to reduce the need for secondary removal surgery in younger patients.

Distribution partners

Buy or represent products in markets outside the U.S. and support local commercialization.

Healthcare systems

Adopt the products when value-based care and reduced procedure burden are important.

Strategy

Bioretec’s strategy centers on expanding the RemeOs™ platform, generating clinical evidence, and building commercial scale in the U.S. and selected international markets. The company also aims to introduce at least one new product or indication every 12–18 months, using R&D and surgeon engagement to strengthen adoption and support long-term commercialization.

Expand the RemeOs™ product familyMedium term

New products and indications broaden the addressable market and deepen the platform.

Strengthen U.S. commercializationShort term

Direct distribution and surgeon education can improve adoption in the largest target market.

Improve outside-U.S. market executionShort term

Partner selection and market-specific launches are needed to convert approvals into sales.

Generate clinical and economic evidenceMedium term

Evidence supports surgeon adoption, reimbursement discussions, and regulatory credibility.

Geography

Bioretec is headquartered in Tampere, Finland and operates through subsidiaries in Austria and the United States. Its implants are sold worldwide in more than 40 countries, with commercial priorities centered on the U.S. and selected markets outside the U.S. Geography matters because regulatory approvals, distributor selection, and surgeon education differ by market and directly affect adoption.

Risks

Bioretec depends on regulatory approvals, surgeon adoption, and successful commercialization of a relatively novel implant platform, so execution risk is high. The business also faces typical medtech risks such as product quality, clinical evidence requirements, distributor dependence outside the U.S., and the possibility that adoption of absorbable implants develops more slowly than expected.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Regulatory and approval risk1Commercial adoption risk2Product quality and clinical risk3Distributor execution risk4Innovation pipeline risk5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Regulatory and approval riskImpact: HighLikelihood: Medium

    Implants must clear country-specific regulatory pathways before sales can expand.

    Exposure: RemeOs™ launches and new indications

  2. Commercial adoption riskImpact: HighLikelihood: Medium

    Surgeons may be slow to switch from established metal implants to absorbable alternatives.

    Exposure: U.S. direct sales and international launches

  3. Product quality and clinical riskImpact: HighLikelihood: Low

    Implants are used in surgery, so defects or adverse events could affect reputation and approvals.

    ExposureManufacturingQA/QCPost-market surveillance
  4. Distributor execution riskImpact: MediumLikelihood: Medium

    Outside the U.S., sales depend on partner selection, incentives, and local execution.

    Exposure: OUS commercialization

  5. Innovation pipeline riskImpact: MediumLikelihood: Medium

    Growth depends on timely new products and indications from the R&D pipeline.

    Exposure: RemeOs™ platform expansion

Accounting

Judgemental items
Revenue recognition

Sales may be recognized at shipment or delivery depending on contract terms and channel structure.

Impact: Can shift quarterly revenue timing around product launches and distributor orders

Development costs and capitalization

R&D for new implant platforms may involve judgment on what can be capitalized versus expensed.

Impact: Affects operating profit and asset balances

Impairment of development assets

If commercialization or approvals lag, related assets may need write-downs.

Impact: Could materially affect earnings and equity

Inventory valuation

Specialized medical device inventory can become obsolete if product mix or approvals change.

Impact: May create write-downs or margin volatility

Foreign currency translation

Operations span multiple currencies and markets.

Impact: Can affect reported revenue, expenses, and equity

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026