3D Systems has announced that it has signed a definitive agreement to sell its surgical simulation and training company Simbionix to Surgical Science Sweden AB for $305 million.
Headquartered in Cleveland, Ohio with its R&D center in Israel's Airport City, Simbionix has pioneered patient-specific simulation with FDA-cleared solutions that are changing the way preparation for individual surgeries are carried out. Its proprietary simulation and training products have transformed the way physicians practice and master surgical procedures with improved learning that can favorably impact patient outcomes. 3D Systems acquired Simbionix for $120 million in 2014. The company was founded in Israel 1997 by Ran Bronstein, who remains the head of Israel operations, while Boaz Tal is CFO.
3D Systems president and CEO Dr. Jeffrey Graves said, "Our Simbionix business, under the leadership of Ran Bronstein, has secured a strong position in the medical simulation, training and robotic surgery market. As the Simbionix team now joins forces with Surgical Science, I believe their future will be even brighter, with increased scale and an ability to leverage the core strengths of both businesses in a growing medical simulation market."
This sale completes 3D Systems’ initiative to divest non-core businesses in order to focus onadditive manufacturing solutions for applications in growing markets that demand high-reliability products.
Simbionix, with its broad portfolio of simulators in areas such as general surgery, endovascular procedures, endoscopy, urology, orthopedics, ultrasound, and robotic surgery, will be integrated with Surgical Science to form a market-leading company in the simulation of medical procedures, including advanced robotic surgery.
With revenue of $40.8 million in 2020, Simbionix also brings long-established collaborations with leading medical technology companies and academic institutions that are at the forefront of developing new robotic surgery technology and operating procedures.
Published by Globes, Israel business news - en.globes.co.il - on July 29, 2021
© Copyright of Globes Publisher Itonut (1983) Ltd. 2021