Symmetry Surgical Inc., the wholly-owned subsidiary of
orthopedic implants and instruments maker
), recently launched additional neurosurgical line extensions for
its Micro Instruments product portfolio. Management believes that
the new instruments will benefit neurosurgeons by improving
surgical efficiency and clinical results.
The complementary extensions were showcased at the American
Association of Neurological Surgeons ("AANS") meeting in Miami in
Symmetry added the Micro Instruments portfolio with its
acquisition of the surgical instruments business of Codman &
Shurtleff Inc. ("Codman"), a
Johnson & Johnson
) enterprise. The new products include an instrument tray that can
hold the entire set of 33 micro instruments. The tray is specially
designed to protect the 2 millimeter bayonetted shafts of the Micro
Instrument. The innovative shelf and base of the tray are expected
to keep instruments in order during neurosurgical procedures.
Symmetry, in December 2011, completed its acquisition of the
surgical instruments portfolio of Codman & Shurtleff. Following
the closure of the transaction, the integrated direct general
surgical instruments operation, Specialty Surgical Instrumentation
("SSi"), was renamed "Symmetry Surgical".
Revenues, in the most recent quarter, from the smaller Symmetry
Surgical unit soared almost threefold to $26.7 million, buoyed by
the Olsen Medical and Codman & Shurtleff acquisitions, which
contributed roughly $16.1 million to the division's sales.
Symmetry is the largest original equipment manufacturer ("OEM")
provider of implants and related surgical instruments and cases to
orthopedic devices manufacturers. Its major customers include
Johnson & Johnson's DePuy,
However, Symmetry still faces price and procedure volume
pressure on the orthopedic front. Also, the company's high spending
may continue to weigh on its bottom line. Currently, we have a
Neutral recommendation on Symmetry. The stock currently retains a
short-term Zacks #2 Rank (Buy).
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