M&A · Healthcare · Orthopedic, Prosthetic & Surgical Appliances & Supplies
restor3d, Inc. to acquire Conformis Inc
Announced Jun 22, 2023 · Closed Sep 5, 2023
Deal value$17M
Premium96.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll cash$2.27 per share
Transaction
- Acquirer
- restor3d, Inc.
- Target
- Conformis Inc
- Buyer type
- Strategic
- Offer price per share
- $2.27
- Enterprise value
- —
- Status
- Closed Sep 5, 2023
Deal protections
- Break fee (target pays)
- $0.9M · 5.3%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- No financing condition
Advisors
- To the acquirer
- Not disclosed
- To the target
- UBS
- UBS fee
- $3.0M
Sector context · Healthcare
- Comparable deals
- 84 in the prior 24 months
- Premium
- 96.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- Sector median 19.3x
- Break fee
- 5.3% vs. 3.5% sector median
Timeline
- AnnouncedJun 22, 2023
- Proxy filedJul 14, 2023
- Definitive proxyJul 24, 2023
- Shareholder voteAug 31, 2023
- ClosedSep 5, 2023
Valuation · fairness opinions
Discounted cash flow$0.43$0.65
52-week trading range$1.09$9.65
Premiums paid$1.64$1.71
Trading comparables$1.68$3.05
Trading comparables$1.74$3.24
Offer $2.27
Implied value per Conformis Inc share by analysis, from UBS.