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Files Initial Symmetry Surgical Registration Statement on Form S-4 With SEC
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 the Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act (HSR) for its definitive agreement to sell its OEM Solutions business to Tecomet. Concurrent with the sale of the OEM Solutions business, Symmetry Medical Inc.’s shareholders will receive ownership in a new public company that will spin out at the closing and hold the Symmetry Surgical business.
The closing of the transaction is also subject to other customary closing conditions, including the effectiveness of Symmetry’s Registration Statement on Form S-4, which was initially filed with the Securities and Exchange Commission on September 5, 2014, registration and listing of Symmetry Surgical’s common stock, and final approval by the Company’s shareholders. Subject to the satisfaction of these other conditions, the transaction is expected to close by the end of 2014.
There can be no assurance regarding the ultimate timing of the proposed transaction or that the transaction will be completed. Symmetry Medical does not intend to provide regular updates on its progress regarding this transaction, but will announce completion of the transaction and will make such other disclosures as required by applicable law.
About Symmetry Medical:
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 orthopedic 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.
