BioStem Technologies develops and sells placenta and umbilical cord-derived tissue allografts to treat chronic wounds and support surgical healing. These amniotic membrane products act as biological scaffolds that promote tissue repair for patients with diabetic foot ulcers, venous leg ulcers, and pressure ulcers. BioStem also provides allografts for orthopedic, plastic, and general surgeries. The company sells these products to hospitals, physician offices, and ambulatory surgical centers (ASCs) through a direct sales force, independent agents, and third-party distributors. BioStem utilizes three proprietary processing platforms—BioRetain, CryoTek, and SteriTek—to produce dry, cryopreserved, and ambient-temperature allografts under the Vendaje, Neox, and Clarix brands. The business model depends on third-party reimbursement, primarily Medicare. Following a 2026 shift to a flat-rate reimbursement model that reduced per-unit revenue in physician offices, BioStem is pivoting its strategy toward hospital and commercial payer markets. BioStem manufactures its core products in-house at a facility in Florida but currently uses a supply agreement for its acquired Neox and Clarix lines. Management plans to bring all manufacturing in-house to increase margins. The company's growth strategy involves expanding its direct sales force, utilizing clinical trial data for value analysis approvals, and launching the Catalyze wound care device.