Conformis, Inc. CFMS shares are shooting higher after the company announced a deal to be acquired by medical device firm restor3d for $2.27 per share in cash.
The deal offers a premium of 96% to the closing price of Conformis stock on June 22, 2023.
"We are excited to enter the next chapter for Conformis with restor3d, which allows us to continue helping patients live productive lives after knee or hip surgery and providing the surgeon community with innovative products and services," said Mark Augusti, Chief Executive Officer at Conformis.
restor3d is a 3D printing orthopedic medical devices company in Durham, North Carolina.
"We see tremendous opportunity to offer clinically differentiated and cost-effective solutions across the orthopedic landscape, including shoulder, foot & ankle, spine, and large joints," stated Kurt Jacobus, Chief Executive Officer of restor3d.
The closing of this transaction is expected by the end of Q3 2023.
Price Action: CFMS shares are trading higher by 91.3% to $2.22 in the premarket session on the last check Friday.
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