Symmetry Surgical Announces Exclusive U.S. Distribution Agreement With neoSurgical for neoClose(R) Trocar Port Closure System
Symmetry Surgical Inc. (Nasdaq:SSRG) announced today an exclusive distribution agreement in the United States with neoSurgical Limited for its innovative neoClose® Trocar Port Closure System.
NASHVILLE, Tenn., Jan. 5, 2015 (GLOBE NEWSWIRE) -- Symmetry Surgical Inc. (Nasdaq:SSRG) announced today an exclusive distribution agreement in the United States with neoSurgical Limited for its innovative neoClose® Trocar Port Closure System. Symmetry Surgical's sales representatives in the United States will begin selling the neoClose® System in the first quarter of 2015.
neoSurgical received clearance to market neoClose® from the United States Food & Drug Administration (FDA) in 2013 for the closure of trocar ports used in robotic and laparoscopic surgical procedures. Since its pilot release, surgeons and clinicians have commented on the product's ease-of-use, closing 5 mm to 15 mm trocar ports quickly, with virtually no learning curve. Barry Russell, Chief Executive Officer & Founder of neoSurgical Limited, commented, "neoClose® is the first product launch from neoSurgical and we are pleased to be able to partner with Symmetry Surgical on this agreement to achieve access to the entire U.S. market for our innovative solution for trocar port closure."
Thomas J. Sullivan, Symmetry Surgical's President and Chief Executive Officer, said, "We are pleased to enter an exclusive distribution agreement in the United States with neoSurgical for its unique neoClose® Trocar Port Closure System. neoSurgical has received positive physician feedback on the neoClose® system in its pilot launch, which gives us confidence that it will be well received in a national launch. Symmetry Surgical is ideally positioned to drive adoption of the neoClose® System with our U.S. sales force, broad customer relationships and strong complementary product offerings in laparoscopic surgical instruments and accessories."
Mr. Sullivan added, "The collaboration with neoSurgical and the addition of the neoClose® System is aligned with our growth strategy, which is anchored on expanding our product offerings through distribution agreements with innovative companies, acquisitions into the broader $5 billion single use, re-usable, and re-posable surgical device market and our own new product development. Maintaining focus on executing this strategy will drive growth through our core business and in our new products."
neoSurgical is an award-winning global medical device company focused on providing technical innovation to the surgical devices industry, particularly for those surgeons conducting laparoscopic and minimally invasive surgery (MIS). Winner of the 2014 Kinetic Process Innovation Award and the R&D 100 Award, neoSurgical leverages its in-depth expertise in interpreting surgeons' needs and converting these needs via an innovative and market led engineering response to deliver compliant devices with the goal to make surgery safer, simpler and superior for both surgeons and their patients. The company's European headquarters is in Dublin with U.S. headquarters in Boston. More information about neoSurgical can be found at www.neosurgical.com.
About Symmetry Surgical Inc.
Symmetry Surgical is dedicated to developing and delivering high-quality, innovative surgical instruments that meet clinicians' needs and improve patients' lives. Our team collaborates with healthcare providers around the world to provide medical devices that exceed our customers' expectations and provide solutions for today's needs and tomorrow's growth. Our rich and diverse history creates one of the industry's most comprehensive surgical instrument portfolios, which includes our well-known brands such as BOOKWALTER®, GREENBERG®, RILEY™, OLSEN™, ULTRA™, QUAD-LOCK®, FLASHPAK®, RAPIDCLEAN®, OPTI-LENGTH®,CLASSIC® and CLASSIC PLUS®. Symmetry Surgical is headquartered in Nashville, TN. For more information, please visit www.symmetrysurgical.com.
This press release includes statements that express our opinions, expectations, beliefs, plans, objectives and assumptions regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements." These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "expects," "may," "will," "should," "seeks," "projects," "approximately," "intends," "plans," "estimates" or "anticipates," or, in each case, their negatives or other variations or comparable terminology. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future, including risks and uncertainties relating to the consummation of the proposed separation and the risks identified, or incorporated by reference, in the prospectus and other filings with the United States Securities and Exchange Commission. Unless required by applicable law, Symmetry Surgical undertakes no obligation to update or revise any such forward-looking statements whether as a result of new information, future events or otherwise.
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Symmetry Surgical Inc.