Belgium-based Materialise is acquiring United Kingdom-based OrthoView, a two-dimensional digital preoperative planning and templating solutions provider for orthopedic surgeons.
Here are five things to know about the acquisition:
1. Materialise will pay £8.47 million in cash payments for OrthoView.
2. There is a possibility of an additional earn out payment of up to £0.36 million.
3. OrthoView had around £1.2 million in cash and cash equivalents when the transaction was complete. The company had no financial debt.
4. The transaction is expected to be accretive to earnings per share within 12 months.
5. The acquisition was signed and closed simultaneously.
Technology from both companies will come together for hospitals to have a "one-stop-shop" for surgical planning software tools and three-dimensional printing for medical devices. OrthoView serves more than 11,000 orthopedic surgeons in 60 countries and focuses primarily on joint replacements. OrthoView's 23 employees are all expected to join Materialise post-acquisition.
The first successful total knee surgery preplanned with Materialise's X-ray knee guide solution was completed in September.