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June 26, 2023
2 Min Read
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3D-printed orthopedics company restor3d Inc. has entered into a definitive agreement to acquire all outstanding common stock shares of Conformis, which has “image-to-implant" technology to fabricate patient-specific knee implants in its product portfolio.
The $2.27 per share in cash offered by restor3D represents an approximate 96% premium to the closing price of Conformis stock on June 22, 2023. The deal is expected to close by the end of the third quarter of this year.
This latest in a string of M&As and partnerships in the 3D printing space will create a leading personalized 3D-printed medical device company, said restor3d CEO Kurt Jacobus. “Together, we share a common belief in the power of personalization. By leveraging the strengths in our respective portfolios around artificial-intelligence-driven implant design, digital automation, and 3D-printed osseo-integrative biomaterials, we see tremendous opportunity to offer clinically differentiated and cost-effective solutions across the orthopedic landscape, including shoulder, foot and ankle, spine, and large joints,” said Jacobus.
Conformis’ board of directors determined that the transaction was in the best interests of the almost 20-year-old company and unanimously approved the deal. CEO Mark Augusti called the transaction a “testament to the value of our portfolio and the strength of our core technology and intellectual property."
Industry observers noted at the start of the year that they expected to see a trend toward consolidation, and recent events have borne this out.
In January, materials supplier Braskem acquired taulmann3D, an Indiana-based company producing nylon, recycled PETG, and PETA 3D printing filaments. The acquisition reportedly doubled Brazil-based Braskem’s market share in the 3D printing space.
In April, PlasticsToday reported on polymer 3d printing company Nexa3D acquiring Addifab, which developed an end-to-end digital tooling process by coupling 3D printing and injection molding to allow manufacturers to offer same- and next-day part production.
Stratasys and Desktop Metal cut a deal valued at $1.8 billion in May to combine the companies and create an industrial 3D-printing “powerhouse.”
And, coming full circle back to medical 3D printing, EOS, Tecomet, Orthopaedic Innovation Centre, and Precision ADM entered into a collaborative partnership earlier this month to offer medical device OEMs a one-stop shop providing everything from product design and process development to assistance with FDA submissions.
This is not an exhaustive list and we are just shy of the half-year mark, so there is every indication that the 3D printing sector will look quite different come 2024.
About the Author(s)
Editor in chief of PlasticsToday since 2015, Norbert Sparrow has more than 30 years of editorial experience in business-to-business media. He studied journalism at the Centre Universitaire d'Etudes du Journalisme in Strasbourg, France, where he earned a master's degree. Reach him at [email protected].
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