Symmetry Medical Closes Olsen Medical Acquisition
WARSAW, Ind., Aug. 18, 2011 /PRNewswire/ — Symmetry Medical Inc. (NYSE: SMA), a leading global source of innovative medical device solutions, including orthopedic implants, surgical instruments, and sterilization cases and trays, announced today that it has completed the previously announced acquisition of Olsen Medical.
Olsen Medical is a privately-held, world leader in the design, development and manufacturing of electrosurgical instruments and accessories. It manufactures a full line of single-use and reusable bipolar and monopolar forceps, cords, electrosurgical pens/pencils, electrodes, and accessories. The Company’s products are primarily sold in the United States and internationally through distributors. Olsen Medical’s domestic distributor network includes Symmetry’s wholly-owned subsidiary Specialty Surgical Instrumentation (SSI).
Thomas J. Sullivan, President and Chief Executive Officer of Symmetry Medical, said, “The addition of Olsen Medical is representative of our broader strategic initiative to diversify Symmetry’s product portfolio and expand our direct hospital business. I am pleased to welcome Olsen’s employees to the Symmetry Medical team and we look forward to working together to drive growth of their strong product portfolio.”
About Symmetry Medical Inc.
Symmetry Medical Inc. is a leading global source of innovative medical device solutions, including orthopedic implants, surgical instruments, and sterilization cases and trays. The Company’s nearly 3,000 Teammates provide design, development and worldwide production capabilities for these products to customers in the orthopedic industry, other medical device markets, and specialized non-healthcare markets. Symmetry’s trusted reputation and brands, broad Intellectual Property portfolio and commitment to innovation enable it to collaborate with hundreds of global medical device manufacturers as well as thousands of hospitals to provide solutions for today’s needs and tomorrow’s growth.
Forward Looking Statements
Statements in the press release regarding Symmetry Medical Inc.’s business which are not historical facts may be “forward-looking statements” that involve risks and uncertainties, within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictive in nature and are frequently identified by the use of terms such as “may,” “might,” “will,” “should,” “expect,” “believe,” “anticipate,” “plan,” “estimate,” “intend,” and similar words indicating possible future expectations, events or actions. Such predictive statements are not guarantees of future performance, and actual outcomes and results could differ materially from our current expectations. We refer you to the “Risk Factors” and “Forward Looking-Statements” sections in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as the Company’s other filings with the SEC, which are available on the SEC’s Web site at www.sec.gov.
Contact: Investors and Media: Symmetry Medical Inc. The Ruth Group Fred L. Hite Zack Kubow Senior Vice President (646) 536-7020 Chief Financial Officer firstname.lastname@example.org (574) 371-2218
SOURCE Symmetry Medical Inc.