07-30-2014: 3D Systems Corporation acquired Simbionix Ltd., a leader in 3D virtual reality surgical simulation and training
Two days ago, we marked the third anniversary of its sale...
On July 30, 2014, 3D Systems announced it had entered into a definitive agreement to acquire Simbionix, the global leader in 3D virtual reality surgical simulation and training, for $120 million. At that time, Simbionix had over 60 interventional procedures across 8 specialties on 16 simulation platforms. With this acquisition, 3D Systems expanded the scope and reach of its activities in the area of 3D healthcare. However, almost exactly seven years later, on July 28, 2021, Simbionix was sold again, this time to Surgical Science.
Simbionix created patient-specific simulations with FDA-cleared solutions for individual surgical preparation. Its proprietary simulation and training products revolutionized how physicians practice and master surgical procedures through enhanced learning. The company was headquartered in Cleveland, Ohio, with a research and development center in Israel.
However, 3D Systems did not only acquire technology. Simbionix also brought global sales channels and strong clinical relationships. The company's products were used in simulation centers, hospitals, colleges, and other educational facilities in over 60 countries.
In 2020, things took a turn for the worse for 3D Systems. The new CEO, Dr. Jeffrey Graves, faced numerous financial challenges, while the C19 pandemic caused a decline in the company's revenue. To stabilize the finances, Graves announced a strategic refocus, concentrating on industrial and medical businesses, and divesting any operations that did not align with this focus.
Since then, 3D Systems has been selling off various assets, including Cimatron 3D printing software and 3DS’ on-demand manufacturing business. The sale of Simbionix was another part of this divestiture. The simulation business was sold to Surgical Science Sweden AB, a leading supplier of virtual reality simulators for medical training, for $305 million. Since then it has been an integral part of the Swedish company.