10.21.14
Materialise NV, an additive manufacturing company based in Leuven, Belgium, has acquired United Kindgom-based OrthoView Holdings Ltd., which makes 2-D digital pre-operative planning and templating solutions for orthopedic surgeons. The cash deal is valued at for a cash payment of $13.7 million, and a possible additional earn out payment of up to $580,000. At completion, OrthoView had an estimated $1.9 million in cash and cash equivalents on hand and no financial debt. The transaction, which was signed and closed simultaneously, is expected to be accretive to earnings per share within 12 months.
“We are extremely proud that OrthoView has joined the Materialise Group. With an outstanding reputation in the surgical pre-planning world, complementary product portfolio and a robust sales reach, OrthoView is an ideal fit for Materialise,” said Materialise founder and CEO Fried Vancraen. “Its X-ray based, pre-operative planning software is used in 2000 hospitals worldwide and is connected to many picture archiving communications systems (PACS). Our combined expertise and sales force will allow us to offer, through various channels, a complete range of services and solutions to surgeons and hospitals; with 2-D as well as 3-D planning tools for almost any type of medical images and with the possibility to offer corresponding 3-D printed surgical guides and models.”
“Surgeons and PACS partners have always seen 3-D planning as a natural addition to the OrthoView product portfolio, but building up that kind of expertise requires years of development and a huge investment,” said John Chambers, the company's co-founder and CEO. “With Materialise already at the forefront of this technology, our team can quickly expand the solutions we offer to surgeons worldwide.”
Chambers, who will continue his career within the Materialise group, also sees potential to increase the global reach of OrthoView’s current product portfolio as a result of the transaction.
On Sept. 22, Materialise announced the successful completion of the first total knee surgery that was preplanned by means of the Materialise X-ray knee guide solution. The new technology allows for the preplanning of knee replacement surgeries as well as the 3-D printing of related surgical guides, solely on the basis of 2-D X-ray images.
“We are extremely proud that OrthoView has joined the Materialise Group. With an outstanding reputation in the surgical pre-planning world, complementary product portfolio and a robust sales reach, OrthoView is an ideal fit for Materialise,” said Materialise founder and CEO Fried Vancraen. “Its X-ray based, pre-operative planning software is used in 2000 hospitals worldwide and is connected to many picture archiving communications systems (PACS). Our combined expertise and sales force will allow us to offer, through various channels, a complete range of services and solutions to surgeons and hospitals; with 2-D as well as 3-D planning tools for almost any type of medical images and with the possibility to offer corresponding 3-D printed surgical guides and models.”
“Surgeons and PACS partners have always seen 3-D planning as a natural addition to the OrthoView product portfolio, but building up that kind of expertise requires years of development and a huge investment,” said John Chambers, the company's co-founder and CEO. “With Materialise already at the forefront of this technology, our team can quickly expand the solutions we offer to surgeons worldwide.”
Chambers, who will continue his career within the Materialise group, also sees potential to increase the global reach of OrthoView’s current product portfolio as a result of the transaction.
On Sept. 22, Materialise announced the successful completion of the first total knee surgery that was preplanned by means of the Materialise X-ray knee guide solution. The new technology allows for the preplanning of knee replacement surgeries as well as the 3-D printing of related surgical guides, solely on the basis of 2-D X-ray images.