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Symmetry Medical to Acquire the Surgical Instruments Business of Codman & Shurtleff

Symmetry Medical entered into a definitive agreement to acquire the surgical instruments business of Codman & Shurtleff for US $165MM in cash. Codman's line of surgical instruments will be integrated with Symmetry's current hospital direct business, Specialty Surgical Instrumentation, creating a new business segment to be re-named Symmetry Surgical, based in Nashville, TN.

The transaction is expected to close by the end of 2011. Codman's instruments are used in the specialties of spine, orthopaedics, micro/neurosurgery, etc. (Source: Symmetry Medical Inc.)