WARSAW, Ind., Jan. 25 /PRNewswire-FirstCall/ -- Symmetry Medical Inc. (NYSE: SMA), an independent provider of products to the global orthopaedic device industry and other medical markets, announced today that it has completed the previously announced acquisition of DePuy Orthopaedics, Inc's facility for orthopaedic instrument manufacturing in New Bedford, MA for $45 million in cash.
As originally announced in December 2007, Symmetry and DePuy have entered into a supply agreement which requires DePuy to make minimum purchases from the New Bedford facility for a four year period.
Brian Moore, President and Chief Executive Officer, stated, "The strategic acquisition of DePuy's orthopaedic instrument facility will strengthen our position as a leading provider to the orthopaedic industry. We believe this acquisition provides additional manufacturing capacity to service our broader customer base, builds on our relationship with DePuy, expands our East Coast presence and allows us to move forward with an existing skilled workforce to service our growing market."
About Symmetry Medical Inc.
Symmetry Medical Inc. is a leading independent provider of implants and related instruments and cases to the orthopaedic device industry. The Company also designs, develops and produces these products for companies in other segments of the medical device market, including arthroscopy, dental, laparoscopy, osteobiologic and endoscopy sectors and provides limited specialized products and services to non-healthcare markets, such as the aerospace market.
Statements in the press release regarding Symmetry Medical Inc.'s
business, which are not historical facts, may be "forward-looking
|SOURCE Symmetry Medical Inc.|
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