restor3d
restor3d ankle - 1
Healthcare company restor3d has announced its previously announced acquisition of Conformis has been completed following the approval of Conformis stockholders.
Conformis stockholders gave their approval at a special meeting held on August 31, 2023, with shares of Conformis common stock ceasing to trade on the NASDAQ prior to the opening of the NASDAQ on September 5, 2023. The outstanding shares of the company were acquired at 2.27 USD per share in cash, representing an approximate 96% premium to the closing price of Conformis stock on June 22, 2023.
Conformis has made its name in orthopaedics with its Image-to-Implant Platinum Services Program, which has helped to deliver more than 130,000 successful custom implants. These medical devise have been developed using 3D imaging and 3D printing technologies, which restor3d believes will supplement its own efforts to improve foot, ankle and spinal surgeries with 3D printing technology.
Having completed the acquisition, restor3d has suggested that the addition of Conformis will propel the ‘scalable future of best-in-class personalised device solutions to present day.
“We are extremely excited to complete this important transaction and look forward to leveraging our combined portfolio to deliver personalised orthopaedic solutions for the whole human body,” said J. Kurt Jacobus, CEO of restor3d. “With the addition of Conformis to the organisation, we see tremendous opportunity to deliver clinically differentiated and cost-effective solutions across the orthopaedic landscape, including shoulder, foot & ankle, spine, and large joints such as knees and hips. We have mapped out a product roadmap that will deepen and extend our offerings across the body, providing surgeons and patients with the personalised device solutions they deserve.”
