Symmetry Surgical, a subsidiary of orthopedic implants and
Symmetry Medical, Inc.
), launched its Bookwalter Self-Retaining Rotilt Ratchet at the
60th Congress of the Association of periOperative Registered
Nurses (AORN) in San Diego. The advanced device is the latest
component of the leading Bookwalter Retractor System, which
incorporates the best features of the past generation into a
single light-weight ratchet with a low-profile design.
The Bookwalter portfolio was developed by Codman &
Shurtleff, Inc. (Codman), a
Johnson & Johnson
) enterprise, acquired by Symmetry in Dec 2011. Symmetry absorbed
Codman's surgical instrument product line into its hospital
direct setup, Specialty Surgical Instrumentation ("SSi"). The
integrated direct general surgical instruments operation has been
named as Symmetry Surgical.
Since Symmetry Medical's core Original Equipment Manufacturer
("OEM") Solutions business is facing declining capital spending,
as well as procedural and pricing pressure from the weak global
orthopedic market, the company is focused on expanding its
smaller Symmetry Surgical business.
In the fourth quarter of 2012, revenues from the smaller
Symmetry Surgical unit jumped 154% to $28.5 million, buoyed by
the acquisition of Codman & Shurtleff, Inc., which
contributed roughly $13.1 million to the division's sales.
Revenues also include a one-time purchase of an OEM Solutions
client worth $2.9 million. Excluding the acquisition and the
one-time purchase, sales increased 10.4% year over year in the
However, the company currently has a Zacks Rank #4 (Sell), as
both revenues and earnings missed the Zacks Consensus Estimates
in the fourth quarter of 2012. While we remain pessimistic
regarding Symmetry, companies such as
) , each carrying a Zacks Rank #1 (Strong Buy), warrant a
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