10-21-2014: Materialise acquired OrthoView – a provider of orthopedic digital pre-operative planning software
Acquisition was a part of three pillars strategy
On October 21, 2014, Materialise announced the acquisition of the UK-based company OrthoView Holdings Limited, specializing in 2D digital pre-operative planning for orthopedic surgeons. The acquisition amount was £8.47 million. At the time of the transaction announcement, OrthoView's software was being used in hospitals worldwide, integrated with Picture Archiving and Communication Systems (PACS).
The goal of the acquisition was to combine OrthoView's 2D planning technology with Materialise's developing 3D tools. As a result, a comprehensive offering was created for orthopedic surgeons, combining 2D templates with the capability to 3D print surgical guides and anatomical models.
OrthoView, with its primary focus on joint replacement surgeries, collaborated with over 11,000 surgeons in 60 countries, and its software imported X-ray images, enabling precise planning of orthopedic procedures. The acquisition opened up new opportunities for the company, allowing the integration of 2D tools with 3D technology, which significantly accelerated the development of their services.
The transaction was part of Materialise's strategy to develop its medical division as one of the three independent pillars of the company (the other two being 3D printing services and 3D printing software development). The funds for the acquisition of OrthoView were raised in part through a stock offering on the NASDAQ, where Materialise made its debut just under four months earlier, on June 25, 2014.
As for the future of OrthoView's software, in the years following the acquisition, it was seamlessly integrated into Materialise's offerings, which enabled the rapid introduction of 3D to orthopedic surgery planning. The software continues to be actively developed and is used by hospitals worldwide as one of the key tools for pre-operative planning in orthopedics.
Source: www.materialise.com