3D Systems, whose healthcare division provides 3D printing for medical models, surgical guides, hearing aids and dental applications, has acquired Bespoke Innovations Inc., a startup company based in San Francisco, Calif., that develops proprietary, integrated scan, design and print technology for custom fit prosthetics, orthotics and orthopedic devices.
Terms of the deal were not disclosed.
3D Systems has made clear its intentions to invest in research and development first before commercializing new Bespoke products. The company also stands by its previously announced guidance of $330 million to $360 million in revenue and $1 to $1.25 non-GAAP (generally accepted accounting principles) earnings per share. 3D Systems does not expect the acquisition to affect 2012 revenue.
The Rock Hill, S.C.-based 3D Systems plans to eventually integrate Bespoke into its growing healthcare solutions services and leverage its integrated scan, design and print technology to develop and commercialize a full range of ventilated and lightweight custom fit prosthetics, orthotics and orthopedics.
“Bespoke products can deliver . . . individualization and style to an underserved audience through its . . . designs and proprietary scan-to-print technology,” said Abe Reichental president and CEO of 3D Systems. “We plan to fast-track additional Bespoke products to market and to enhance their affordability and availability through our technology and manufacturing infrastructure.”
Scott Summit, co-founder of Bespoke, noted that the company already has products that are reimbursable by insurance companies: “This is an exciting and timely development that fuses together essential Bespoke and 3D Systems technologies to deliver an expanded range of life enhancing, cost effective treatments for the benefit of patients and providers alike, within existing insurance reimbursement codes.”
Bespoke uses image-based 3D scanning technology to capture images of both the “sound side” leg (the physical limb opposite to the prosthetic) and the prosthetic leg. The company claims the scan takes less than a minute. A 3D computer model results, and a mirrored sound side leg is then superimposed over the prosthetic leg. The intent is to give patients their body symmetry back to the greatest degree possible. Bilateral amputees can find a stand-in who approximates their original or preferred shape. The company has design and printing processes in place that materialize the prosthetic after the scan.