3D Systems signed a definitive agreement to sell its medical simulation business, Simbionix, to Surgical Science Sweden, a supplier of virtual reality simulators for medical training, for $305 million. This will complete 3D Systems’ initiative to divest non-core businesses in order to focus exclusively on enabling additive manufacturing solutions for applications in growing markets that demand high-reliability products.
Earlier this year, 3D Systems announced initial investments to bolster its leadership position with the acquisition of Allevi, Inc. and Additive Works to build its bioprinting and software portfolios, respectively. It has also announced planned expansions of its facilities in Rock Hill, South Carolina and Littleton, Colorado to address rising customer demand for additive manufacturing technologies.
Additionally, the company welcomed Dr. David Leigh as its new Chief Technology Officer for Additive Manufacturing to expand and accelerate application development and product innovation including all hardware, software, and materials development for production-scale additive manufacturing solutions. Dr. Leigh’s arrival has enabled 3D Systems’ co-founder, Chuck Hull, to increase his emphasis on biotechnology as Chief Technology Officer for Regenerative Medicine, leading the development of solutions that are creating exciting new opportunities in regenerative medicine.
Through this transaction, Simbionix will be integrated with Surgical Science to focus on simulation of medical procedures, including advanced robotic surgery. Simbionix complements Surgical Science’s position with a broad portfolio of simulators in areas such as general, orthopedic, robotic and other surgical applications. 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.
3D Systems expects completion of the Simbionix transaction to occur in August 2021.
Source: 3D Systems