Restor3d to acquire Conformis for $2.27 per share (MassDevice)
websites: https://www.restor3d.com/ https://www.conformis.com/
This ends the death spiral for Conformis.
ConforMIS was founded in 2004 and went public in 2015. The company had around 300 employees and has raised an amazing $523M.
Great products, terrible business model. Conformis will always be known for paving the way for mass personalized TKAs, but they were never able to make a profit. Last year, $62M in gross sales, but Conformis somehow lost $50M. Ouch!
Read also - https://orthostreams.com/tivo/
Restor3d and Conformis (Nasdaq:CFMS) announced that they entered into a definitive merger agreement.
Under the agreement, Restor3d, a 3D-printed orthopedic company, 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 intends to make the purchase in cash.
“This combination will create a leading personalized 3D-printed medical device company,” said Restor3d CEO Kurt Jacobus. “Together, we share a common belief in the power of personalization. By lev...
