Bioretec’s strategy
Expansion into market segments with high potential
1. Commercialization of the RemeOs™ trauma screws
United States and Europe
Bioretec received a U.S. market authorization for its RemeOs™ trauma screw in March 2023. In September 2023, Bioretec signed a distribution agreement in the U.S., and the launch of the RemeOsTM screws in the world’s largest single orthopedic trauma product market commenced. The launch will concentrate on certain strategically selected top-tier academic healthcare centers. A controlled launch is crucial in ensuring the widespread adoption and success of the product in the times ahead.
Bioretec plans to bring the RemeOs™ trauma screws also to the European market after receiving the CE mark. In Europe, the company will use its existing distributor network, which enables products to be distributed efficiently across Europe after product training. The distributors understand the local market, prevalent regulations, and cultural differences.
2. Development and commercialization of other products in the RemeOs™ product family
Bioretec has the following schedule to commercialize the RemeOsTM product family: DrillPin in 2025, the staples in 2026, the plates in 2027 and the IM-Nail and the spinal cage after 2028. In October 2024, Bioretec announced it will accelerate the product development of the RemeOs™ Spinal Interbody Cage following the granting of the Breakthrough Device Designation -status by the US FDA in March 2024.
3. Maintaining world-class capabilities in the organization
Differentiation and success in a global, regulated market and innovation requires excellence. Bioretec endorses a winning culture, which commits the current employees to the company and attracts new talent with a high level of competence.
4. Focus on achieving high profitability
In addition to sales growth targets, the company considers it important to achieve a high level of business profitability. The estimated higher gross margin of RemeOs™ products, the lean organizational structure and moderate operational expenses will enable the company to improve its operational efficiency and profitability in the future.