Bioretec Ltd - Managers' transactions

Bioretec Ltd  Managers' transactions 5 January 2024 at 11.00 a.m. EET

TAMPERE, Finland, Jan. 5, 2024 /PRNewswire/ --

Bioretec Oy - Managers' Transactions

Person subject to the notification requirement
Name: Stephen Industries Inc Oy
Position: Closely associated person
(X) Legal person  (1):Person Discharging Managerial Responsibilities In Issuer
Name: Kustaa Poutiainen
Position: Member of the Board
Issuer: Bioretec Oy
LEI: 7437008736AG7HY51K13
Notification type: INITIAL NOTIFICATION
Reference number: 48652/4/6

Transaction date: 2024-01-03
Outside a trading venue
Instrument type: SHARE
ISIN: FI4000480454
Nature of transaction: ACQUISITION

Transaction details
(1): Volume: 606370 Unit price: 2.1 EUR

Aggregated transactions (1):
Volume: 606370 Volume weighted average price: 2.1 EUR

Further enquiries

Timo Lehtonen, CEO, tel. +358 50 433 8493
Johanna Salko, CFO, tel. +358 40 754 8172
Certified adviser: Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device company that continues to pioneer the 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 RemeOstm?product line?based on a magnesium alloy and hybrid composite, introducing a new generation of strong biodegradable materials for enhanced surgical outcomes. The RemeOstm 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 RemeOstm 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 

SOURCE Bioretec