Symmetry Medical to Acquire the Surgical Instruments Business of Codman & Shurtleff (press release)
Summary of Strategic and Financial Benefits of the Transaction
Diversifies Symmetry's revenue base with higher margin hospital direct business representing ~25% of total revenue; 2011 pro-forma revenue for the acquired surgical instrument business is approximately $60 million;
Strengthens Symmetry's intellectual property portfolio;
Adds strategic logistics and procurement capabilities in Tuttlingen, Germany to service Symmetry's OEM and hospital customers;
Enhances Symmetry's ability to bring innovation to its OEM customers through broader hospital market intelligence in additional surgical specialties;
Establishes global presence in 60+ countries for Symmetry Surgical and creates opportunities for accelerated growth in the U.S. and abroad;
Expected to be breakeven on a GAAP EPS basis in 2012 and significantly accretive on a cash EPS basis
Symmetry Medical Inc. (NYSE:SMA), a leading global source of innovative medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays, announced today that it has entered into a...
