Today, restor3d, Inc. and Conformis, Inc. (NASDAQ: CFMS) have entered into a game-changing merger agreement; restor3d, a revolutionary 3D printed orthopedic company, will be acquiring all outstanding shares of Conformis Inc. for a staggering $2.27 per share—a staggering 96% premium to its closing price from June 22nd, 2023! This jaw-dropping agreement will revolutionize the orthopedic industry, setting a new benchmark for personalized 3D-printed orthopedic technology.
By combining restor3d’s expertise in artificial-intelligence-driven implant design, digital automation, and 3D printed osseointegrative biomaterials, we are creating a leading personalized 3D-printed medical device company. We strongly believe in the potential of personalization as a transformative tool in improving patient outcomes and reducing healthcare costs. Together, we are well-positioned to provide superior orthopedic solutions across a broad range of areas, including shoulder, foot & ankle, spine, and large joints.
After two decades of transforming the orthopedic industry with patient-centered treatment and choice, Conformis can proudly look back on a successful process that has led the Board to unanimously approve this beneficial transaction. This exciting next chapter propels Conformis into the future with the help of restor3d; continuing to help patients live productive lives after knee and hip surgeries, and providing the surgeons with innovative products and services.
The Board of Directors unanimously approved the transaction after determining it to be in the best interests of Conformis’ stockholders. Expected to close by the end of Q3 2023, the transaction will be finalized following approval from the company’s stockholders and the fulfillment of standard closing conditions.
About restor3d, Inc.
restor3d, a revolutionary medical device company based in Durham, North Carolina, is revolutionizing the way surgeons reconstruct and repair the human body. By utilizing 3D printing technology and osseointegrative biomedical materials, as well as biomedicals modeling and AI-based planning and design automation tools, restor3d is creating unique medical device solutions with enhanced anatomical fit and superior integrative properties to greatly improve surgical outcomes.
About Conformis, Inc.
Conformis is revolutionizing orthopedic patient care and paving the way for a world free of joint pain. Through its extensive portfolio of custom-made solutions, namely its Image-to-Implant® Platinum Services℠ Program and data-driven, standardized implants with the convenience of an off-the-shelf system, they are providing patients and surgeons with the choice of personalized care.
Moreover, their Surgery-in-a-Box™ delivery system, offering sterile, just-in-time implants and single-use instruments, is a revolutionary way to treat joint-related symptoms. With its impressive patents and pending applications covering personalized and patient-specific implants and instruments for all major joints, Conformis is dedicated to delivering cutting-edge orthopedic care.
Cautionary Statement Regarding Forward-Looking Statements
Our future plans and prospects have the potential to pave the way for significant growth in our total revenue, product revenue, and gross margins. However, there is a vast array of risks and uncertainties that could prevent us from achieving the plans, intentions, and expectations disclosed in our forward-looking statements.
These risks include, but are not limited to, the risk of not completing our proposed transaction in a timely manner or at all, the failure to meet any of the conditions to the consummation of the proposed transaction, the occurrence of any event, change, or other circumstance that could lead to the termination of the merger agreement, and the outcomes of any legal proceedings that have been or may be instituted against Conformis and restor3D.
It is important to bear in mind that these forward-looking statements are our views and may change as events and developments take place. We do not take any obligation to update these statements, and they should not be relied upon as being our views as of any date subsequent to the date hereof.