Bioretec Ltd Press release 22 November 2024 at 9:30 a.m.EET
TAMPERE, Finland, Nov. 22, 2024 /PRNewswire/ -- Bioretec Ltd, a pioneering company dedicated to advancing biodegradable orthopedic implants, is moving ahead with the next phase of the commercialization of its innovative RemeOs Trauma Products in the U.S. market. As a continuation to the previously signed logistics agreement with GlobalMed Logistix, Bioretec strengthens now its commercialization efforts by signing a new sales and distribution agreement with Tri-State Biologics (TSB), which is a distributor of medical and surgical products based in New Jersey. TSB is a leading medical solutions provider with 18 sales representatives dedicated to breaking the mold of traditional medical device distribution. Signing of the agreement will enable the smooth sales and distribution of implants and instrument sets to hospitals within Greater New York City, Philadelphia, New Jersey, Connecticut, and Massachusetts area covering one of the most populated areas of the United States.
As part of the next phase of the RemeOs Trauma Screw commercialization, Bioretec aims to sign more new local sales and distribution agreements to serve civilian hospitals in the U.S. while Spartan Medical continues to serve the military and veteran hospitals.
"We are happy to announce this sales and distribution agreement with a partner who is innovative in forming medical product distribution streams in the U.S. The initial controlled launch of RemeOs Trauma Screws in the U.S. yielded excellent patient results, with a notable number of surgeries and successful post-healing follow-ups. This success lays the groundwork for entering the second phase of commercialization for RemeOs products in the U.S. and driving demand within the surgeon community", says Alan Donze, CEO of Bioretec Ltd.
Further enquiries
Alan Donze, CEO, tel. +358 40 663 5011
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 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 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, the CE mark approval process is currently ongoing. Bioretec is positioning itself to enter the addressable over USD 9 billion global orthopedic trauma and spine market and become a game changer in surgical bone fracture treatment.
Better healing - Better life. www.bioretec.com
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