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Bioring SA

Company Summary

Bioring SA Company develops and manufactures cardiac biodegradable annuloplasty devices designed to restore a normal heart function. Its customers are cardiac surgery clinics who want prostheses that accomplish useful tasks with as little expenditure of time and money as possible. The company was incorporated in Switzerland in 2000, after three years of previous developments.

2.1 Company Ownership

Bioring SA is a privately-owned Swiss operation. Raymond Andrieu, Bioring’s founder, is the majority owner. Several members of the board of directors also hold minority stock positions. The initial $642,500 share capital is increased by another $100,000 in April 2000.

2.2 Start-up Summary

Our start-up expenses come to $258,500, which are mostly equipment, legal costs, patent costs and expenses associated with opening our first office and manufacturing facilities.  Another $384,000 is required in start-up assets. The start-up costs are to be financed by direct owners’ investment. The assumptions are shown in the following table and chart.

Surgical medical equipment business plan, company summary chart image

Start-up Expenses
Legal $43,000
Stationery etc. $3,000
Brochures $0
Consultants $10,000
Insurance $20,000
Rent $25,000
Research and development $95,000
Other $62,500
Total Start-up Expenses $258,500
Start-up Assets
Cash Required $29,000
Start-up Inventory $75,000
Other Current Assets $0
Long-term Assets $280,000
Total Assets $384,000
Total Requirements $642,500
Start-up Funding
Start-up Expenses to Fund $258,500
Start-up Assets to Fund $384,000
Total Funding Required $642,500
Non-cash Assets from Start-up $355,000
Cash Requirements from Start-up $29,000
Additional Cash Raised $0
Cash Balance on Starting Date $29,000
Total Assets $384,000
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Planned Investment
Investor 1 $110,000
Investor 2 $110,000
Investor 3 $110,000
Investor 4 $93,750
Investor 5 $93,750
Investor 6 $62,500
Investor 7 $62,500
Other $0
Additional Investment Requirement $0
Total Planned Investment $642,500
Loss at Start-up (Start-up Expenses) ($258,500)
Total Capital $384,000
Total Capital and Liabilities $384,000
Total Funding $642,500

2.3 Company Locations and Facilities

Headquarters are located in an office of approximately 4,000 square feet at Chemin d’Etraz 2, CH-1027 Lonay, Switzerland.

The present office space is small. As we add employees, we will have to take on additional space. We expect space to be available in our present building. The office space will have assembly space on site and be equipped to handle shipping.