Osstec Ltd

Osstec Ltd is a small, active company based in Baldock, UK, founded three years ago in 2021. It employs six people and holds £122,670 in assets, operating from a virtual address shared by eighty-four other companies. The company is led by three directors and one owner, Munford Maxwell James. Osstec is an irregular importer, primarily dealing with optical and medical tools and devices, with the last import operation recorded two months ago in April 01, 2024.

The company's website highlights its focus on knee implants, combining 3D-printed surfaces with biomimetic cementless fixation. Their mission is to empower people to be the best they can be, leveraging technological innovation to improve patient outcomes and operating efficiency. They are targeting a growing market, with a global need for knee replacement surgery increasing, and current implants often failing. Their technology aims to address these issues with cementless fixation and partial knee replacements, offering faster recovery and better outcomes. The website details partnerships with leading medical institutions and funding secured, including a recent 2.5M funding round and successful cadaver lab testing in New York.

Financially, Osstec Ltd presents a mixed picture. While revenue is not directly stated, net assets have significantly decreased by 600% to -£1,000,000, a considerable drop. Cash reserves have plummeted by 93% to just £66,000, while bank borrowings increased by 100% to £91,000. Creditors have also risen sharply, by 640%, to £47,000. Staff costs have increased by 200% to £360,000, reflecting the expansion of the team to nine employees. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the substantial equity decline suggests the company is burning through cash. With no auditor mentioned, the figures rely on unaudited statements.

In short, Osstec Ltd is showing signs of rapid growth but facing financial pressures. The company’s focus on innovative knee implants and securing funding indicates potential, but the declining equity and cash reserves warrant close monitoring.

Registered in England/Wales under the registration number 13500695, with a registered address at SG7 6QQ, England, Baldock, Hertfordshire, First Floor, 28 Whitehorse Street.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.