RoundTable Healthcare Partners to Acquire Symmetry Surgical for $129M (HealthPointCapital)
RoundTable Healthcare Partners, a healthcare focused private equity firm, entered into an agreement to acquire Symmetry Surgical for an enterprise value of $129.5 million, valuing the business at 1.5x LTM revenues of $85.0 million, or 15.5x LTM EBITDA of $8.4 million.
Under the terms of the agreement, Symmetry shareholders will receive $13.10 in cash for each share of Symmetry common stock they own. The offer price represents a 26% premium to Symmetry's closing price of its common stock on April 29, 2016.
Symmetry Surgical focuses on developing reusable, single-use and reposable general surgical instruments for the orthopedic, cardiovascular, arthroscopy, endovascular, neurovascular, ophthalmology, colorectal, gynecology, otolaryngology and pediatrics markets. The company has a product portfolio consisting of 20,000 products.
In August, 2016, Symmetry Surgical announced the divestiture of its Original Equipment Manufacturer (OEM) Solutions business, Symmetry Medical, which it sold to Tecomet for $450 million at 1.4x LTM revenues. The separation occurred in order to allow Symmetry Surgical to ...
