3D Systems Sells Medical-Simulation Business to Surgical Science Sweden ABJuly 29, 2021
3D Systems announced that it has signed a definitive agreement to sell its medical- simulation business, Simbionix, to Surgical Science Sweden AB for $305 million. This sale to the Swedish supplier of virtual-reality, medical-training simulators is expected to close in August and will complete 3D Systems’ initiative to divest non-core businesses in order to focus exclusively on its stated strategic purpose to enable “additive manufacturing solutions for applications in growing markets that demand high-reliability products.”
“As the Simbionix team now joins forces with Surgical Science, I believe that 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,” says Dr. Jeffrey Graves, 3D Systems president & CEO. “The proceeds from this sale, combined with previously announced divestitures, will leave us in a strong position, with a cash balance of approximately $500 million and no debt.
In pursuit of its strategy, 3D Systems has been reorganized into two business units, Healthcare and Industrial Solutions.
See also: 3D Systems