restor3d Completes Acquisition of Conformis to Form Leading Personalized 3D-Printed Orthopedic Solutions Company

Sep 11, 2023 07:30 CST Updated 07:30

Restor3d

3D Printing Implant Supplier

ConforMIS

Joint Replacement Implant Manufacturer

Source: Bone Future; Editor: Jacky

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On September 5, 2023, restor3d, Inc., an orthopedic device company specializing in 3D printing technology, and Conformis, Inc. (NASDAQ: CFMS) announced the official completion of their merger.

# Restor3d Officially Acquires ConforMIS

On August 31, 2023, Conformis' shareholders announced the approval of the previously reached acquisition agreement with Restor3d at a special meeting.Upon completion of the acquisition, Conformis’s common stock will cease trading on NASDAQ prior to the market open on September 5, 2023.

More than two months ago, Restor3d and Conformis announced that they had reached a definitive merger agreement. Under the agreement, Restor3d will acquire all outstanding common shares of Conformis for $2.27 per share in cash.

Restor3d CEO J. Kurt Jacobus stated that the company is delighted to complete this significant transaction and looks forward to leveraging the combined product portfolios of both companies to deliver personalized orthopedic solutions for the patient population. With the addition of Conformis, Restor3d has gained a tremendous opportunity to provide clinically differentiated and cost-effective solutions across the entire orthopedic field, including shoulder, foot and ankle, spine, as well as large joint products such as knees and hips.The company has developed a product roadmap to deepen and expand its existing product range, providing high-quality personalized orthopedic solutions for surgeons and patients.

Restor3d produces a full range of personalized orthopedic instruments, as well as a series of related auxiliary products. The company already possesses extensive expertise in 3D printing of osseointegration biomedical materials, biomechanical modeling, AI-based surgical planning, and design automation tools, and the addition of ConforMIS has further advanced its personalized solutions.

# About Restor3d

Restor3d is a leading medical device company headquartered in North Carolina, USA. The company focuses on enhancing anatomical fit and overall performance of products through 3D-printed orthopedic medical devices, enabling surgeons to better perform reconstruction and repair surgeries on the human body. Restor3d seeks to leverage expertise in advanced biomedical materials via 3D printing, biomechanical modeling, and AI-based surgical planning and tool design to improve medical device solutions.

#03 About ConforMIS

ConforMIS was founded by Dr. Philipp Lang in 2004 and is headquartered in Massachusetts, USA. The company is dedicated to the development, manufacturing, and sale of customized knee replacement implants using 3D printing technology, aiming to address issues at all stages of osteoarthritis. Its product portfolio includes iTotal, iUni, iDuo, iPoly, and iPoly XE.

Throughout ConforMIS's development history of over a decade, apart from the acquisition of Board Peak medical device processing plant in 2017, the company has rarely engaged in large-scale acquisitions or corporate collaborations. Empowered by its core patent iFit, ConforMIS has developed a series of minimally invasive bone and cartilage-preserving knee implants and instruments.

As ConforMIS' proprietary technology platform, iFit can customize personalized joint replacement implants for patients, potentially addressing the shortcomings of traditional total knee replacement surgery. Implants made using this technology platform offer more stable performance, better alignment with patients' joint structures, and reduce the risk of cross-infection due to repeated use of instruments. All of ConforMIS’ joint replacement products have received FDA approval or CE certification.

The iTotal series of knee implant products includes the instruments required for surgery, customized cutting blocks, and knee implants. Currently, there are two models in this series: iTotal®CR and iTotal®PS. Compared to standardized, mass-produced knee replacement implants, every femoral and tibial implant in the iTotal series total knee replacement system is custom-made for each patient.

ConforMIS also plans to extend its product reach to areas such as the shoulder, limbs, and spine, aiming to create a complementary range of customized and non-customized implants for various orthopedic sub-sections, thereby expanding its product portfolio.

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