Bioretec, a Finnish pioneer in biodegradable implants, has appointed Tuukka Paavola as its new chief financial officer, strengthening its management team amid its international expansion.

Paavola, who takes up the role on 20 January 2026, brings more than 20 years of experience in finance, capital markets, and strategic planning. He previously served as CFO of Nightingale Health and held several senior roles at Nordea Bank. Paavola holds a master’s degree in industrial engineering and is a Chartered Financial Analyst.

The move shows that Bioretec is stabilizing its management after appointing an interim CEO and interim CFO last year, according to Listeds data. Bioretec reported a double-digit surge in net loss despite a double-digit boost in net sales last year amid heavy investments in the United States, based on its annual report.

“I am delighted for the opportunity to join Bioretec at this very exciting moment and help the company in continuing its global growth journey,” Paavola said.

Chief Executive Sarah van Hellenberg Hubar-Fisher welcomed Paavola to Bioretec and thanked interim CFO Anne-Mari Matikainen for supporting the company during a transition period. “We continue to advance our mission to become a global leader in absorbable implants focused on healing,” the CEO added.