Symmetry Surgical Inc., a subsidiary of orthopaedic implants and
) recently completed its distribution agreement with Device
Technologies Australia, PTY Ltd. Per the alliance, Device
Technologies agreed to directly distribute Symmetry's surgical
offerings in Australia and New Zealand.
Renowned medical devices and consumables company, Device
Technologies supplies sophisticated medical equipments to various
hospitals and health care centres across Australia and New Zealand.
Through the partnership, Symmetry expects to explore growth
opportunities to sell its leading brands to new customers and
expand its market in the Australian sub-continent.
Symmetry, in December 2011, completed its acquisition of the
surgical instruments business of Codman & Shurtleff Inc.
Johnson & Johnson
) enterprise. Following the closure of the transaction, the
integrated direct general surgical instruments operation, Specialty
Surgical Instrumentation ("SSi"), was renamed "Symmetry
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, Inc. acquisitions,
which contributed roughly $16.1 million to the division's
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,
Symmetry has created a distinct competitive niche in the
orthopedic devices market with its "Total Solutions Approach." The
company is investing in revamping its management structure and
enhancing customer collaboration, which should push growth moving
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 the stock. Symmetry currently retains a
short-term Zacks #2 Rank (Buy).
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