July 28, 2021 – 3D Systems, a manufacturing solutions partner, has today announced that it has signed a definitive agreement to sell its medical simulation business, Simbionix, to Surgical Science Sweden AB, a supplier of virtual reality (VR) simulators for medical training, for a purchase price of USD $305 million. The sale action, which is subject to customary closing conditions and adjustments, will complete 3D Systems’ initiative to divest its non-core businesses.
“Over the last several months, 3D Systems has divested a number of assets that are not core to our industry-leading additive manufacturing solutions business,” said Dr. Jeffrey Graves, President & CEO, 3D Systems. “The final of these is our Simbionix business, under the leadership of Ran Bronstein, which 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.”
The proceeds from the sale, combined with previously announced divestitures, will leave 3D Systems with a cash balance of approximately USD $500 million and no debt, according to the company, which has reorganized into two business units – Healthcare and Industrial Solutions. The company added that for 2020, Simbionix reported sales of USD $40.8 million, and that it expects completion of the Simbionix transaction to occur in August 2021.
As a result of the transaction, Simbionix will be integrated with Surgical Science to expand the company’s offering in the medical simulation market. Surgical Science anticipates that the acquisition of Simbionix will complement and strengthen its position in the market, where it can offer a broad portfolio of simulators in areas such as general surgery, endovascular procedures, endoscopy, urology, orthopedics, ultrasound, and robotic surgery. According to 3D Systems, Simbionix also brings long-established collaborations with medical technology companies and academic institutions that are developing new robotic surgery technology and operating procedures.
For more information on Surgical Science and its virtual reality medical simulators, please visit the company’s website.
Image credit: 3D Systems
About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.