As part of their effort to aggressively expand their offerings, 3D Systems says they've entered into an agreement to acquire Simbionix, a firm which specializes in 3D virtual reality surgical simulation and training, for $120 million in cash.
Simbionix boasts 60+ interventional procedures across 8 specialties through 16 simulation platforms – a complementary building block that expands 3D Systems' breadth and reach within the open-ended 3D healthcare field.
The transaction is expected to be completed within the next 30 days.
"Simbionix is a perfect match for our healthcare business," said Avi Reichental, President and Chief Executive Officer of 3D Systems. "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."
Simbionix is a pioneer of patient-specific simulations with FDA-cleared solutions.
Headquartered in Cleveland, Ohio with a research and development center in Israel, Simbionix specializes in preparation for individual surgeries and offers proprietary simulation and training products to physicians for master surgical procedures. The company's products can be found in simulation centers, hospitals, colleges and educational facilities in more than 60 countries.
"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. 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," said Gary Zamler, the CEO of Simbionix Corporation.
3D Systems also recently acquired Medical Modeling, a firm which offers what they call Virtual Surgical Planning, a process which is aimed at guiding and instrumentation of complex personalized surgical procedures, production at scale of 3D printed implants, and delivery of a wide variety of 3D printed patient-specific medical devices.
According to 3D Systems, they plan to operate Simbionix under the continued leadership of Gary Zamler, CEO of Simbionix, and add that Zamler will become Vice President and General Manager, Simbionix Products for 3D Systems. The company says Zamler will be tasked with pursuing "synergistic integration opportunities leveraging the combined resources and expertise to advance 3D Systems' healthcare portfolio further and faster."