Restor3d of Durham to Acquire Conformis

Medical device startup restor3d, which uses 3D printing for a more individualized approach to implant surgery, is getting bigger.

The Durham-headquartered company has entered into a definitive merger agreement with Conformis, Inc. to acquire all outstanding shares of common stock of the Massachusetts-based business for $2.27 per share. The all-cash deal is a 96% premium to Conformis’ closing price on June 22. It should be completed by the end of the third quarter of this year.

The companies said the combination will create a leading personalized 3D-printed medical device business focused on artificial intelligence-driven implant design, digital automation, and 3D printed biomaterials used in a variety of joint repair and replacement surgeries. 

“Together, we share a common belief in the power of personalization,” said restor3d CEO Kurt Jacobus. “By leveraging the strengths in our respective portfolios…we see tremendous opportunity to offer clinically differentiated and cost-effective solutions across the orthopedic landscape, including shoulder, foot & ankle, spine, and large joints.”

Restor3d was co-founded in 2017 by Ken Gall, Ph.D., a professor of medical engineering at Duke University who also is the company’s chief technology officer. Another co-founder, Andrew Miller, Ph.D., is chief operating officer.

The company – originally known as Additive Device – has concentrated on developing 3D printed medical devices, created with advanced biomaterials, and designed specifically for the patients who receive them. Gall has said he believes this more individualized approach to surgery will soon replace the current one-size-fits-all way of repairing the human body. 

Restor3d’s current emphasis is on orthopedics. But its TIDAL technology, coupled with the company’s artificial and machine learning software, can be used to repair almost any part of the musculoskeletal system.

A 2021 merger with total ankle replacement company Kinos Medical increased restor3d’s footprint in the high-growth U.S. foot and ankle market.
Earlier this year, Restor3d received 510 (k) clearance from the U.S. Food and Drug Administration that confirmed the safety and effectiveness of its Axiom PSR (patient-specific resection) System. These titanium alloy instruments are designed, in direct collaboration with surgeons, to ensure the ideal anatomic fit and positioning of implants in their patients who undergo total ankle replacements using restor3d technology.

The company’s products are primarily printed and manufactured in house. Restor3d said it is relocating from its current downtown Durham headquarters to a larger complex in Research Triangle Park this summer. The new 50,225-square-foot facility will be used for patient-specific digital design, product development, implants and instruments manufacturing, and surgeon training and education. 

Restor3D employs close to 150 people in the Research Triangle area.