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.
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.
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Today’s price gains come after a nearly 88% cliff dive in Conformis shares over the past year.
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