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    Together towards Health: RENOLIT sells Kumovis shares and has proven the open Innovation strategy approach

    1 March 2022 – In May 2020 RENOLIT announced the investment into the start up Kumovis based in Munich/Germany. RENOLIT was at this time the only strategic partner with the target to contribute to the development of Kumovis with her experience in Healthcare, her competences and know how.
    From this cooperation RENOLIT derived some important future projects like filament production for 3D printing and the precision injection moulding project focusing on implantable medical devices.
    What was clearly described in May 2020 is still valid. The world of medicine and Healthcare has changed significantly in the recent years. New players in the value chain are emerging. One of them is 3D Systems (NYSE:DDD) based in the US. In January 2022 3D Systems raised an LOI targeting the 100% acquisition of the Kumovis shares. Consequently during the last weeks RENOLIT has started contractual negotiations with the Kumovis owners, the other investors and 3D Systems to sell the Kumovis shares. The companies mutually signed the Sales and Purchase Agreement on 23 February 2022. 
    On 24 February 2022 3D Systems announced that it has entered into an agreement to acquire 100% of the Kumovis share as a strategic investor. "With this acquisition, 3D Systems will add a unique extrusion technology to its extensive polymer printing healthcare portfolio, allowing the company to expand its addressable market for personalized healthcare applications.“ For more information about 3D Systems please look at: The closure of this deal will take place at 31 March 2022.
    This is a great step for Kumovis but also for RENOLIT. RENOLIT has proven that the open innovation strategic direction is the right one to follow in the future. The company will watch the market closely and further cooperate with start-ups and potential partners in the near future. RENOLIT learned a lot about this field of cooperation and was able to utilize the Kumovis cooperation to further add new business segments to its portfolio.
    RENOLIT is looking very much forward to a good future cooperation with Kumovis further developing the 3D filament business and wish the team all the best for their future journey.