Conformis acquired by restor3d for $2.27 per share in cash

restor3d and Conformis (CFMS) announced that they have entered into a definitive merger agreement under which restor3d will acquire all outstanding shares of common stock of Conformis at $2.27 per share in cash, which represents an approximate 96% premium to the closing price of Conformis stock on June 22. Conformis’ board determined the transaction is in the best interests of the company’s stockholders and unanimously approved the transaction. The closing of the transaction is expected by the end of Q3 and is subject to approval by Conformis stockholders and other customary closing conditions. “This combination will create a leading personalized 3D-printed medical device company. Together, we share a common belief in the power of personalization. By leveraging the strengths in our respective portfolios around artificial-intelligence-driven implant design, digital automation, and 3D printed osseointegrative biomaterials, we see tremendous opportunity to offer clinically differentiated and cost-effective solutions across the orthopedic landscape, including shoulder, foot & ankle, spine, and large joints,” stated Kurt Jacobus, Chief Executive Officer of restor3d.