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Symmetry Medical to acquire Specialty Surgical Instruments
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WARSAW, Ind. - Symmetry Medical has entered into a definitive agreement to acquire Specialty Surgical Instruments and Ultra Containers of America for $15.1 million in cash, the company announced.
Additionally, Symmetry Medical has entered into a 2-year agreement for a potential earn-out with Specialty Surgical Instruments (SSI) and Ultra Containers of America. The acquisition is expected to close by Sept. 30, according to a Symmetry press release.
"This acquisition will be consistent with our long-term efforts to further diversify our business into other medical device markets and helps strengthen our competitive advantage as a total solutions provider," said Brian Moore, president and chief executive officer of Symmetry Medical, in the release.
"SSI's strong distribution channels offer the opportunity to increase our penetration directly into hospitals and deliver additional cross-selling opportunities to our customers. Further, the acquisition will extend Symmetry's product reach into surgical specialties, where we previously had limited presence, including cardiovascular, ENT and ophthalmology," he said.