3D Systems rallies; co inks deal to sell medical simulation business

Surgical Science Sweden AB

28/07/2021 18:59

** 3D Systems  DDD.N  shares rise as much as 8.4% to $27.04
on Weds; co announces sale of medical simulation business,
Simbionix, to Surgical Science Sweden AB  SUSW.ST  for $305 mln
 urn:newsml:reuters.com:*:nGNX7YZrrm
    ** 3D printing firm says deal completes its initiative to
divest non-core businesses
    ** Co says proceeds from the sale, combined with previously
announced divestitures, will leave it with cash balance of ~$500
mln and no debt
    ** Simbionix transaction expected to be completed in Aug, co
says
    ** About 2.8 mln DDD shares have traded so far on Weds vs
stock's 30-day avg volume of ~5.5 mln - Refinitiv data
    ** DDD up >150% YTD, but well off 2021 peak of $56.50 hit in
Feb

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))