Symmetry Surgical Partners with MTG Techonologies to Distribute Surgical Instruments Portfolio in Several European Countries
Symmetry Medical Inc. announced today that its subsidiary, Symmetry Surgical, has entered into an exclusive distribution agreement with MTG Medical Technologies (MTG).
Key Partnership Furthers Symmetry Surgical's Global Presence and Sets Stage for Further European Expansion
WARSAW, Ind. , Oct. 31, 2012 (GLOBE NEWSWIRE) --Symmetry Medical Inc. (NYSE:SMA), a leading global source of innovative medical device solutions, including surgical instruments, orthopedic implants and sterilization cases and trays, announced today that its subsidiary, Symmetry Surgical, has entered into an exclusive distribution agreement with MTG Medical Technologies (MTG), subsidiary of Neuro-Competence, in Germany , Austria , Switzerland , Czech Republic , Hungary and Slovakia . Under terms of the agreement, MTG will distribute Symmetry Surgical's portfolio of surgical instruments, which includes all brands and products of the recently acquired Codman surgical instruments portfolio from Johnson and Johnson.
MTG, with more than 14 years of experience, is a leading medical device distributor focused on innovative neurosurgical products that enhance patient care and support hospital providers with cost effective, quality products. MTG will provide Symmetry Surgical with broad regional coverage to support growth of Symmetry's deep product portfolio.
"Partnering with MTG and bringing the Symmetry Surgical portfolio to Europe is an exciting milestone in expanding our global presence," said Chris Huntington, Chief Operating Officer of Symmetry Surgical. "Their expertise and mission align with our own values, which are focused on improving patient care and outcomes. We look forward to working with MTG to achieve strong growth in these key markets as we continue our expansion into other European countries in the coming months."
About Symmetry Surgical Inc.
Symmetry Surgical is dedicated to developing quality surgical instruments that meet the needs of clinicians and help improve the lives of patients. Our portfolio brings together the product lines of Specialty Surgical Instrumentation (SSi), Olsen Medical and the recently acquired surgical instruments division Codman & Shurtleff, Inc. Our well-known brands include BOOKWALTER®, GREENBERG™, RILEY™, OLSEN™, ULTRA™, QUAD-LOCK™, FLASHPAK™, RAPIDCLEAN®, OPTI-LENGTH®, CLASSIC® and CLASSIC PLUS®. Headquartered in Nashville, Symmetry Surgical is a wholly owned subsidiary of Symmetry Medical Inc (NYSE:SMA).
About Symmetry Medical Inc. Symmetry Medical Inc. is a leading global source of innovative medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays. The Company's thousands of Teammates provide design, development and worldwide production capabilities for these products to customers in the orthopaedic industry, other medical device markets, and specialized non-healthcare markets. Symmetry's trusted reputation and brands, broad Intellectual Property portfolio and commitment to innovation enable it to collaborate with hundreds of global medical device manufacturers as well as thousands of hospitals to provide solutions for today's needs and tomorrow's growth.
Statements in the press release regarding Symmetry Medical Inc.'s business which are not historical facts may be "forward-looking statements" that involve risks and uncertainties, within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forwardlooking statements are predictive in nature and are frequently identified by the use of terms such as "may," "might," "will," "should," "expect," "believe," "anticipate," "plan," "estimate," "intend," and similar words indicating possible future expectations, events or actions. Such predictive statements are not guarantees of future performance, and actual outcomes and results could differ materially from our current expectations. We refer you to the "Risk Factors" and "Forward Looking-Statements" sections in the Company's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as the Company's other filings with the SEC, which are available on the SEC's Web site at www.sec.gov.
Fred L. Hite
Senior Vice President
Chief Financial Officer
Investors / Media:
The Ruth Group
Zack Kubow / Lisa Cook
(646) 536-7020 / 7012
Symmetry Medical Inc.