U.S. healthcare company restor3d has completed its previously announced acquisition of medical device manufacturer Conformis. According to restor3d, Conformis shareholders approved the deal at a special meeting on Aug. 31.
NASDAQ-listed Conformis shares were acquired for $2.27 per share in cash as of the close of business Sept. 2. This represents a premium of approximately 96 percent to the closing price on June 22, when the acquisition was announced.
Conformis has made a name for itself in orthopedics with individualized implants manufactured using 3D imaging and 3D printing. The company has delivered more than 130,000 customized implants. This expertise will now help restor3d improve foot, ankle and spine surgeries with 3D-printed instruments.
According to restor3d, the acquisition of Conformis will enable it to expand its portfolio of personalized solutions across orthopedics. Together, the two companies aim to offer clinically differentiated and cost-effective solutions for shoulder, foot, ankle, spine, and knee and hip joints, it said.
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