Restor3d announced today that it completed its previously announced acquisition of Conformis (Nasdaq:CFMS).
The companies completed the deal, announced in June, after Conformis’ stockholders approved it at a special meeting on Aug. 31. As a result, shares of Conformis common stock ceased trading on the Nasdaq prior to market open today, Sept. 5.
Per the terms disclosed in the companies’ initial announcement, Restor3d acquires all outstanding shares of Conformis common stock. The deal includes a purchase price of $2.27 per share. That represents a 96% premium to the closing price on June 22, 2023.
Restor3d said it expected to make the purchase in cash. The 3D-printed orthopedic implant maker offers patient-specific, patient-matched and associated ancillary products. Its expertise comes in the field of 3D printing osseointegrative biomedical materials. The company also offers biomechanics modeling, AI-based planning and design automation tools.
According to Restor3d, adding Conformis to its ranks propels the scalable future of best-in-class personalized device solutions.
“We are extremely excited to complete this important transaction and look forward to leveraging our combined portfolio to deliver personalized orthopedic solutions for the whole human body,” said J. Kurt Jacobus, CEO of Restor3d. “With the addition of Conformis to the organization, we see tremendous opportunity to deliver clinically differentiated and cost-effective solutions across the orthopedic 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 personalized device solutions they deserve.”
