The present disclosure relates to a composite material, in particular a composite material of metals, a process for producing a composite material, and a medical device, in particular an implant, based on the composite material. The composite material comprises at least 5 vol-% of Fe and at least 1 vol-% of Mg or Zn, wherein the composite material comprises a Mg or Zn phase and an Fe phase, wherein the average size of the Mg or Zn phase in at least one dimension is less than 20 μm, in particular less than 10 μm. The medical device, in particular an implant, may be suitable for fixing of bone fractures (as well as fractions of a tendon or a ligament, etc.) and/or corrections and may be capable of exhibiting a targeted failure representing a complete paradigm shift in the treatment of bone fractures and the like.