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Symmetry Medical to acquire Olsen Medical
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Symmetry Medical Inc. announced it has signed a definitive agreement to acquire Olsen Medical. Under the terms of the asset purchase agreement, Symmetry will acquire Olsen Medical’s assets in an all-cash transaction.
“We have had tremendous success selling Olsen’s products, including their market leading disposable forceps product family, and are pleased to add Olsen to our team,” Thomas J. Sullivan, president and chief executive officer of Symmetry Medical, stated in a company press release. “This acquisition is consistent with Symmetry’s strategy to complement our core business as a medical device supplier with growth in our direct hospital business through expanded products and territories that are consistent with our expertise and market segments.”
The agreement has certain pre-closing conditions that must be satisfied, and Symmetry anticipates closing the acquisition by August 15, according to the release.