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Bioabsorbable magnesium (Mg) alloys have several advantages in biomedical implant applications as they reduce certain risks associated with conventional permanent implants. However, limited information is available for WE43 Mg alloy specimens with comparable size to that of biomedical implants such as cardiovascular stents and orthopaedic wires. The present work examines the corrosion and biological properties of WE43 stent precursor tubes and wire specimens suited for orthopaedic implants. The corrosion-induced loss of mechanical integrity as well as the corrosion-induced changes in surface morphology of the specimens are elucidated and compared. Cell viability assays were performed with human umbilical vein endothelial cells (HUVECs). It was observed that Mg ions released from the WE43 alloy acted as a growth stimulator of HUVECs.