Bonesupport Holding AB
STO:BONEX
Bonesupport Holding AB
Bonesupport Holding AB, a Swedish company, has carved a niche for itself in the intricate world of orthopedic treatments and regenerative medicine. Founded in 1999, the company's journey is rooted in innovation and development of injectable bio-ceramic bone graft substitutes, primarily aimed at addressing bone voids and other skeletal maladies. The cornerstone of their business is the proprietary CERAMENT platform, which combines biocompatible, synthetic materials with a unique ability to promote bone healing and integration. By offering solutions that are resorbable and can enhance the regrowth of natural bone, Bonesupport targets clinicians and professionals in orthopedics, trauma, and spine surgery, offering them alternatives to traditional bone grafting methods. The company's products, including CERAMENT BONE VOID FILLER, CERAMENT G, and CERAMENT V, differentiate themselves by also being antibiotic-eluting—allowing for the simultaneous treatment of bone diseases and infection mitigation.
Bonesupport's revenue models revolve around both direct sales and leveraging distribution partnerships in key markets, including Europe, the United States, and emerging regions. The company channels substantial investments into research and development, seeking to broaden the clinical applications of their technologies thus driving adoption in the market. They benefit from a growing interest in minimally invasive treatments among healthcare providers, who aim to enhance patient outcomes while also controlling costs. By continuing to expand its product portfolio and advancing clinical evidence, Bonesupport maintains a competitive edge in skeletal health, translating innovation and efficacy into profitability and market growth. This strategic pursuit of advanced bone treatment technologies underscores their role in transforming standard medical practices, ensuring they remain at the forefront of bone health solutions.
Bonesupport Holding AB, a Swedish company, has carved a niche for itself in the intricate world of orthopedic treatments and regenerative medicine. Founded in 1999, the company's journey is rooted in innovation and development of injectable bio-ceramic bone graft substitutes, primarily aimed at addressing bone voids and other skeletal maladies. The cornerstone of their business is the proprietary CERAMENT platform, which combines biocompatible, synthetic materials with a unique ability to promote bone healing and integration. By offering solutions that are resorbable and can enhance the regrowth of natural bone, Bonesupport targets clinicians and professionals in orthopedics, trauma, and spine surgery, offering them alternatives to traditional bone grafting methods. The company's products, including CERAMENT BONE VOID FILLER, CERAMENT G, and CERAMENT V, differentiate themselves by also being antibiotic-eluting—allowing for the simultaneous treatment of bone diseases and infection mitigation.
Bonesupport's revenue models revolve around both direct sales and leveraging distribution partnerships in key markets, including Europe, the United States, and emerging regions. The company channels substantial investments into research and development, seeking to broaden the clinical applications of their technologies thus driving adoption in the market. They benefit from a growing interest in minimally invasive treatments among healthcare providers, who aim to enhance patient outcomes while also controlling costs. By continuing to expand its product portfolio and advancing clinical evidence, Bonesupport maintains a competitive edge in skeletal health, translating innovation and efficacy into profitability and market growth. This strategic pursuit of advanced bone treatment technologies underscores their role in transforming standard medical practices, ensuring they remain at the forefront of bone health solutions.
Strong Sales Growth: BONESUPPORT posted Q3 net sales of SEK 294 million, up 24% year-on-year and 34% at constant exchange rates, driven by robust U.S. performance.
U.S. Momentum: CERAMENT G sales in the U.S. grew 59% at constant exchange rates, with total U.S. sales up 40% at constant FX, continuing strong new account recruitment.
Margins & Cash Flow: Adjusted operating margin reached 27%, and operating cash flow was SEK 71 million; cash position ended at SEK 379 million.
Guidance Reiterated: Management maintained full-year guidance of sales growth above 40% at constant exchange rates for 2025.
Market Expansion: The publication of the CeraHip study supports entry into the revision arthroplasty segment, opening new growth avenues.
Europe Mixed: European sales rose 5% year-on-year (7% at constant FX), but Germany lagged and the U.K. is recovering slowly due to hospital backlogs.
Spine Segment Launch: CERAMENT BVF will be launched for spine procedures in the U.S. in Q4 2025 with focused distributor partnerships.
R&D and Pipeline: Additional data for CERAMENT V U.S. approval will be submitted in November; regulatory dialogue with the FDA on CERAMENT G in spine planned for early 2026.
