3D Medical, Australia’s leading medical specific 3D printing and holographic projection provider, announced that it has agreed to acquire Mach7 Technologies, the global provider of enterprise image management systems and services for healthcare enterprises.
According to 3DM’s ASX Announcement, the agreement is subject to regulatory and shareholder approval and will see 3DMacquire aacquire100% of the shares of Mach7 in return for issuing 459,499,119 new ordinary shares.
Additionally, 3DM shareholders will be issued 300,000,000 Performance Shares in 3DM, which will convert into new ordinary shares subject to the achievement of four separate performance hurdles.
“3DM will convene the EGM of shareholders to consider and vote on the proposed transaction. It is currently anticipated that the EGM will be held during the first weeks of March 2016. The Company will keep shareholders informed regarding the likely timing of the EGM,” reads 3DM’s announcement.
“Subject to all necessary approvals being obtained, the proposed transaction will complete shortly following the EGM.”
3DM and Mach7 Technologies were awarded US patent for its technology that acquires medical image data from a mobile device and sends that data for patient medical record upload.
3DM is the Australian company that developed a 3D printable and customised titanium jaw joint for use in corrective jaw surgery.