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Combination expands 3DS Healthcare reach from the training room to the operating room
Synergistic technologies accelerate the creation of end-to-end platform for 3D simulation, training, virtual surgical planning, guiding and delivery of 3D printed procedures and devices
Complementary global sales channels and deep clinical relationships accelerate cross-platform adoption
Transaction expected to be immediately accretive to cash generation and contribute to non-GAAP earnings per share after closing
ROCK HILL, S.C., July 30, 2014 (GLOBE NEWSWIRE) --
3D Systems (NYSE:DDD) announced today that it entered into a definitive agreement to acquire
Simbionix for $120 million in cash, subject to customary closing adjustments. Simbionix is the global leader in 3D virtual reality surgical simulation and training with 60+ interventional procedures across 8 specialties through 16 simulation platforms — a complementary building block that expands 3DS's breadth and reach within the open-ended 3D healthcare field. The transaction is expected to be completed within the next 30 days, subject to customary closing conditions. Upon closing, 3DS expects this acquisition to be immediately accretive to its cash generation and to its non-GAAP earnings per share.
"Simbionix is a perfect match for our healthcare business and its powerful technology, products, channels and domain expertise expands our 3D healthcare capabilities from the training room to the operating room, and extends our first mover advantage in this fast growing vertical," said Avi Reichental, President and Chief Executive Officer, 3DS.
Headquartered in Cleveland, Ohio with a research and development center in Israel, Simbionix pioneered patient-specific simulation with FDA-cleared solutions that are changing the way preparation for individual surgeries are carried out. Its proprietary simulation and training products are revolutionizing the way physicians practice and master surgical procedures with improved learning that can favorably impact patient outcomes.
"3D Systems is the recognized 3D healthcare leader and they have an exceptional track record of commercially deploying innovative virtual surgery and medical device products and services," said Gary Zamler, Simbionix Corporation CEO. "We couldn't be more excited to join this fine organization and look forward to accelerate our growth by enhancing the entire 3D digital thread for the benefit of our customers worldwide."