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Woodcast (Onbone)
Develops medical devices for orthopaedic and traumatology purposes
About Woodcast (Onbone)
Onbone Oy, operating under the brand name Woodcast, is a Finnish company established in 2008 that has developed a specialized wood-composite material for medical immobilization. The company was founded by Jari Salo, with other sources indicating it was started by two researchers from the University of Helsinki. The firm’s core product, Woodcast, is a blend of aspen wood chips and a biodegradable polymer, presenting an alternative to traditional casting materials like plaster of Paris and fiberglass.
The business centers on manufacturing and distributing this proprietary material through a global network to various healthcare clients. Its primary customers include emergency departments, orthopedic departments, hand therapists, podiatrists, and veterinary clinics. Revenue is generated from the sale of Woodcast products, which include splints and ribbons of various sizes. The material's pricing is comparable to synthetic alternatives, but the company suggests that clients can achieve overall cost savings due to faster application times and reduced waste.
Woodcast's main feature is its composition, which is non-toxic and free from common irritants like isocyanates and latex found in other casting materials. The material is thermoplastic, becoming moldable when heated to around 65°C using a dedicated heater and hardening as it cools. This process requires no water or protective gloves, simplifying application. A significant benefit is that Woodcast is remoldable; it can be reheated and reshaped for a precise fit, which is particularly useful for adjustments during the healing process. The material is also X-ray transparent, allowing medical professionals to monitor fractures without removing the cast. Initially launched for medical use in 2010 after receiving CE and FDA approval, its applications have expanded to sports for creating protective gear and veterinary medicine, where its non-toxic nature is a key advantage.
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VCOther financing | Apr 2015 | $11M | $44M | Inveni Capital · MVM Life Science Partners · TeSi | — |
Financials
Revenue, earnings and other financial measures where available. Years marked “E” are estimates.
Growth signals
Latest recorded traffic for Woodcast (Onbone) is 840 monthly website visits, down 58% over the last three months. Woodcast (Onbone)'s team grew 33.3% over the past year.
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Investments and acquisitions
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Investors
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Series A3 investors entered at this stage
Inveni Capital
MVM Life Science Partners
TeSi
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
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