ConforMIS Proposes $173M IPO (HealthPointCapital)
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ConforMIS, Inc. filed an S-1 to raise up to $172.5 million through an initial public offering (IPO) of common shares. The price range and number of shares to be sold in the offering has not yet been determined.
The company intends to use the proceeds to expand the company's manufacturing capacity, sales, research and development, clinical activities, and to fund working capital and general corporate purposes.
ConforMIS develops customized (individually sized and shaped) joint replacement implants through its proprietary iFit Image-to-Implant technology platform. The company's iFit platform aims to contour each implant to the patient's unique anatomy and consists of three elements: 1) proprietary algorithms and computer software to design the implants and associated patient-specific instrumentation (iJigs), 2) 3-D printing technology to manufacture the iJigs (currently in process of extending capability to manufacture certain components of customized knee implants) and 3) delivery. Presently ConforMIS offers a line of customized knee implants, however, management expects to s...
