3D Systems Acquires Bespoke Innovations
ROCK HILL, SC — 3D Systems has acquired Bespoke Innovations, a startup based in San Francisco that is bringing a more personal approach to the way a broad spectrum of medical devices are developed and used. Bespoke develops proprietary, integrated scan, design and print technology for delivering custom-fit prosthetics, orthotics and orthopedic devices that improve treatment and lifestyle outcomes.
Although the company expects to make additional R&D investments before it can commercialize new Bespoke products, it affirms its previously announced guidance of $330 million to $360 million in revenue and $1.00 to $1.25 Non-GAAP EPS. The company does not expect this acquisition to be material to its revenue for the remainder of 2012.
3D Systems plans to integrate Bespoke into its growing healthcare solutions services and leverage its integrated scan, design and print technology and knowhow to develop and commercialize a full range of innovative, ventilated and lightweight custom fit prosthetics, orthotics and orthopedics.
"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," said Scott Summit, co-founder of Bespoke.
"Bespoke products can deliver individualization and style to an underserved audience through its extraordinary designs and proprietary scan-to-print technology," said Abe Reichental President & CEO, 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."