3D Systems (3DS; Rock Hill, SC) announced today that it entered into a definitive agreement to acquire Simbionix (Cleveland, OH) for $120 million in cash. Simbionix is the global leader in 3D virtual-reality surgical simulation and training with more than 60 interventional procedures across eight specialties through 16 simulation platforms. The acquisition is described by 3DS as a complementary building block that expands its breadth and reach within the open-ended 3D-healthcare field.
"Simbionix is a perfect match for our healthcare business, and its powerful technology, products, channels, and domain expertise expands our 3D-healthcare capabilities from the training room to the operating room, and extends our first mover advantage in this fast growing vertical," said Avi Reichental, 3DS President and CEO, in a prepared statement.
Simbionix, which operates a research and development center in Israel, has pioneered patient-specific simulation that changes the way preparation for individual surgeries are carried out.
Simbionix CEO Gary Zamler will become Vice President and General Manager, Simbionix Products for 3DS.
The announcement came after 3DS reported second-quarter earnings that fell short of expectations. This was the third quarter in a row of year-on-year declines, and its stock fell almost 8% in midday trading as a result, according to Investors.com.
Earlier this year, 3DS acquired Medical Modeling, a provider of personalized surgical treatments and patient-specific medical devices using 3D modeling and printing technology.