Inside information: Alan Donze has been appointed as Bioretec's new CEO

Bioretec Ltd Inside information 20 May 2024 at 6:00 p.m. EEST

TAMPERE, Finland, May 20, 2024 /PRNewswire/ -- Bioretec Ltd is pleased to announce that Mr. Alan Donze has been appointed CEO of Bioretec as of today, 20 May 2024. He will start in this position immediately. With a distinguished career spanning the banking and medical device industries, Mr. Donze brings a wealth of experience and expertise to the Bioretec organization.

Mr. Donze began his career journey in the banking industry, serving as the Vice President of Commercial Lending and Leveraged Finance for a regional predecessor to Chase bank. He left banking to begin his medical device career as a Regional Sales Representative for Stryker Endoscopy in 1991. Over his 13 years at Stryker, Mr. Donze's responsibilities increased to various senior management positions, including Vice President General Manager of Stryker Endoscopic Service and Vice President General Manager of Stryker Communications, a division he was given the tremendous opportunity to create and build from the ground up. Mr. Donze has also held senior leadership positions for a number of other medical device and technology companies including Smith+Nephew, Bioventus, and Lima Corporate and venture-led startups such as Isotis Orthobiologics, Aerobiotix and Rx.Health. Mr. Donze received his Bachelor of Science in Finance from Louisiana State University.

"We are excited to announce the appointment of Alan Donze as our new Chief Executive Officer. With his proven track record of leadership and vision, we are confident that Alan will lead our company to new heights of commercial success. Alan brings with him 30 years of sales and marketing leadership experience in medical devices, where he has demonstrated a deep understanding of market dynamics and a relentless drive for excellence. His strategic insights and passion for Bioretec's mission make him the ideal leader to guide us into the future," says Tomi Numminen, Bioretec's Chairman of the Board.

"I am honored to be given the opportunity to lead Bioretec to the next level and deeply appreciate the confidence placed in me by the Board of Directors. Bioretec's groundbreaking work in developing alternatives to traditional metal implants represents a significant advancement in the medical field. Our products have the potential to reduce the need for invasive surgeries and improve patient outcomes, aligning with a critical need within the healthcare community. I am eager to contribute to Bioretec's mission by expanding our efforts to introduce these transformative solutions to the benefit of many more patients. I look forward to the journey ahead and to our continued growth and success," says Alan Donze.

Timo Lehtonen, Bioretec's CEO since 2019, will transfer to the position of Chief Technology Officer (CTO) and continue to lead the development of Bioretec's future product pipeline.

"It has been a privilege to lead Bioretec since 2019 and support its remarkable growth through interesting, challenging times. I am excited to focus my efforts on advancing the RemeOs(TM)product pipeline. Together with Alan, I am confident we will continue to strengthen our growth and transform bone fracture care. In my forthcoming role as CTO, I will leverage my extensive experience in innovation, product development, and regulatory expertise to support the management team and our skilled personnel. Our goal is to achieve the best possible outcomes in redefining bone fracture treatment and improving patients' quality of life," says Timo Lehtonen.

"I would like to thank Timo Lehtonen for his passionate and dedicated leadership as our CEO over the past five years. Under his guidance, Bioretec has grown strongly and strengthened its position as a leading innovator in biodegradable technologies. With its biodegradable metal implants, the company has significantly modernized the surgical treatment of bone fractures, which significantly increases the quality of the lives of the patients. Our mutual and succesful path with Timo continues while he assumes the role of CTO in which role he continues to provide important support for the future development of our product pipeline," says Chairman of the Board Tomi Numminen.

Further enquiries

Tomi Numminen, Chairman of the Board, tel. +358 40 581 2132

Certified advisor

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 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(TM) product line based on a magnesium alloy and hybrid composite, introducing a new generation of strong biodegradable materials for enhanced surgical outcomes. The RemeOs(TM) 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(TM) product market authorization has been received in the U.S. in March 2023, and in Europe, the CE-mark is expected to be received during the second quarter of 2024. Bioretec is positioning itself to enter the addressable USD 7 billion global orthopedic trauma market and become a game changer in surgical bone fracture treatment.

Better healing - Better life.

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