3D Printing

3D Printed Knee Implants Get Running on NASDAQ with ConforMIS IPO

Another 3D printing company has jumped into the public sector! Wait. That’s not right. Another 3D printing company has gone public! This time, it’s another medical tech company.  But ConforMIS Inc. (NASDAQ: CFMS) isn’t into bioprinting.  Instead, the firm, which launched its IPO of $9 million shares at $15 per share, creates custom joint implants, specifically knee implants, using their own proprietary technology.

iTotal-vs.-TKR 3D printed knee replacement from conformisThe field of medicine is experiencing a revolution due to the ability to create patient-specific models, implants, and devices. In the case of ConforMIS, this comes in the form of 3D printed knee implants. Rather than use a standard-sized implant, typically used for knee replacement surgery, the company uses a CT scan of a patient to design a custom joint that is also shaped in such a way as to ideally align the patient’s entire leg, a proprietary process that they dub their iFit Image-to-Implant® technology.

3D printed ijig for knee surgeries from conformis

On top of the partial or complete knee implants themselves, the company also produces custom surgical instruments, or iJigs, for installing the implants that are disposed of after the procedure. This allows for a reduction in both the clutter in the operating room and, thus, more importantly, the time a knee surgery takes. To me, it’s this sort of small detail that indicates ConforMIS is actually make important progress in the medical field.

The company went public yesterday, July 1, and closed the day at $19.25 a share, while, today, the stock is spiking up to the $22 level.  The joint bookrunners for the offering were JPMorgan and Deutsche Bank, with Wells Fargo Securities, Canaccord Genuity and Oppenheimer all acting as co-managers.  And the underwriters have a 30-day option to buy up 1.35 million more shares. ConforMIS states that the global market for joint replacements is $15 billion and writes their 2014 revenue to be $48.2 million and $14.7 million for Q1-2015.

If you’re one of those people out there investing in every and any 3D printing stock, then you might want to look into this company. And, if you’re interested in medicine and 3D printing stocks, in general, Materialise is another to look at, as they’ve been involved in medical 3D printing for some time. If, on the other hand, you believe that the stock market is in for an imminent collapse, hide your money under your mattress, where it will appreciate in sentimental value.