In Virtual reality news
July 28, 2021 – 3D systems, a manufacturing solutions partner, announced today that it has signed a definitive agreement to sell its medical simulation business, Simbionix, to Surgical Science Sweden AB, a provider of virtual reality (VR) simulators for medical training, for a purchase price of US $ 305 million. The sale action, which is subject to the usual closing conditions and adjustments, will complete 3D Systems ’initiative to divest its non-core businesses.
“Over the past few months, 3D Systems has divested a number of non-core assets for our industry-leading additive manufacturing solutions business,” said Drs. Jeffrey Graves, President and CEO of 3D Systems. “The aim is our Simbionix business, under the leadership of Ran Bronstein, that has achieved a strong position in the market of medical simulation, training and robotic surgery. As the Simbionix team joins forces with Surgical Science, I believe its future will be even brighter, with a larger scale and an ability to leverage the strengths of the two companies in a growing medical simulation market. ”
The proceeds from the sale, combined with previously announced divestments, will leave 3D Systems with a cash balance of approximately $ 500 million and no debt, according to the company, which has been reorganized into two business units: Healthcare and Industrial Solutions. The company added that by 2020, Simbionix had sales of US $ 40.8 million and expects the Simbionix transaction to be completed by August 2021.
As a result of the transaction, Simbionix will integrate with Surgical Science to expand the company’s offering to the medical simulation market. Surgical Science anticipates that the acquisition of Simbionix will complement and strengthen its market position, where it will be able to offer a wide portfolio of simulators in areas such as general surgery, endovascular procedures, endoscopy, urology, orthopedics, ultrasound and robotic surgery. According to 3D Systems, Simbionix also offers long-standing collaborations with medical technology companies and academic institutions that develop new robotic surgery technologies and operating procedures.
To learn more about Surgical Science and its virtual reality medical simulators, visit the company website.
Image credit: 3D Systems