Shares of medical technology solutions provider Conformis (NASDAQ:CFMS) are up nearly 90% at the time of writing today after it agreed to merge with restor3d. The latter provides personalized 3D-printed orthopedic solutions.
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Under the terms, restor3d will snap up all outstanding Conformis shares at $2.27 apiece. This represents a massive 96% premium over the company’s June 22 closing price.
Importantly, the two companies have expertise across AI-based implant design, digital automation, and 3D-printed osseointegrative biomaterials, and the combined entity is expected to be a leading name in personalized 3D-printed medical devices.
The transaction is anticipated to close by the end of the third quarter of this year and has bagged unanimous approval from Coformis’ Board.
Today’s price gains come after a nearly 88% cliff dive in Conformis shares over the past year.
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