Symmetry Buys Specialty Surgical

Symmetry Medical Inc. in Warsaw, IN, said it plans to buy Specialty Surgical Instruments (SSI), a provider of specialty surgical instruments and sterilization containers, for $15.1 million in cash.         The companies also signed a two-year deal that gives Specialty Surgical the potential for an additional unspecified payment. The transaction is expected to close by Sept. 30.
    As part of the deal, Specialty Surgical’s Ultra Instruments and Ultra Containers will be folded into Symmetry’s standard product line. SSI, based in Nashville, TN, serves the neurological; spine; orthopedics; cardiovascular; ear, nose and throat (ENT); laparoscopy and ophthalmology markets. The company reported 2006 revenues of approximately $21 million.
    “SSI’s strong distribution channels offer the opportunity to increase our penetration directly into hospitals and deliver additional cross-selling opportunities to our customers,” said Brian Moore, Symmetry’s president and CEO. “Further, the acquisition will extend Symmetry’s product reach into surgical specialties where we previously had limited presence, including cardiovascular, ENT and ophthalmology.”