SMA Symmetry Medical, Inc. Symmetry Medical Inc.

Symmetry Medical Inc. offers medical device solutions in the United States, the United Kingdom, France, Ireland, and Malaysia. Segments The company operates through two segments, Original Equipment Manufacturer (OEM) Solutions, and Symmetry Surgical. OEM SOLUTIONS This segment offers medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays. The company designs, develops, and offers production and supply chain capabilities for these products to customers in the orthopedic industry and other medical device markets (including arthroscopy, dental, laparoscopy, osteobiologic, and endoscopy segments). The company’s primary products produced in this segment include implants, including forged, cast, and machined products for the global orthopedic device market; instruments used in the placement and removal of orthopedic implants and in other surgical procedures; cases, including plastic, metal, and hybrid cases used to organize and transport medical devices for orthopedic, endoscopy, dental, and other surgical procedures; and other specialized products for the aerospace market. The company’s Total Solutions approach provides its customers with a range of products, as well as design, engineering, and project management services, and production capabilities to market their implant systems. Implants The company designs, develops, and manufactures implants for use in specific implant systems developed by its customers. The orthopedic implants it produces are used primarily in knee and hip implant systems. The orthopedic implants it supplies are used in reconstructive surgeries to replace or repair hips, knees and other joints, such as shoulders, ankles, and elbows (sometimes referred to as extremities), which have deteriorated as a result of disease or injury. An orthopedic implant system includes various implants designed to work in concert to replicate the structure and function of a healthy joint. The company also manufactures implant products for trauma, spine, and other implant systems. Trauma implant systems are used primarily to reattach or stabilize damaged bone or tissue while the body heals. Spinal implant systems are used by orthopedic surgeons and neurosurgeons in the treatment of degenerative diseases, deformities, and injuries in various regions of the spine. It produces gross shaped, near-net shaped, and net shaped implants for medical device manufacturers. The company’s primary implant products and their applications are: Knees: The knee joint includes the surfaces of three bones, such as the lower end of the femur, the upper end of the tibia (shin bone), and the patella (knee cap). The company’s knee implants include a femoral component, a patella, a tibial tray, and an articulating surface (placed on the tibial tray) and are used in total knee reconstruction, partial knee reconstruction, and revision procedures. Hips: The hip joint consists of a ball-and-socket joint that enables a range of motion. The hip joint is replaced due to degeneration of the cartilage between the head of the femur (the ball) and the acetabulum or hollow portion of the pelvis (the socket). The company produces tight tolerance femoral heads, hip stems, acetabular cups, and spiked acetabular cups used in bone conservation, total-hip reconstruction, and revision replacement procedures. Extremities, Trauma, and Spine: Extremity reconstruction involves the use of an implant system to replace or reconstruct injured or diseased joints, such as the finger, toe, wrist, elbow, foot, ankle, and shoulder. The company’s spinal implant products consist primarily of plates, hooks, and screws. It manufactures trauma and spinal plate implants to exact details to fit bone contours. It has in place a high precision machining cell to serve the spine market. Instruments The company makes high-precision surgical instruments used in hip, knee, and shoulder reconstruction procedures, as well as in spinal, trauma, and other implant procedures. It designs, develops, and manufactures implant-specific and procedure-specific instruments. In addition, it has various proprietary orthopedic reamer systems used by majority of its customers. It has approximately 1,500 Symmetry proprietary products in its catalog. The company produces various products, primarily knee cutting blocks (instruments that guide blades that cut bone), osteotome revision systems (instruments used to cut through bone), reamers (instruments used for shaping bone sockets or cavities), and retractors (instruments used to pull back tissue for clear sight during surgery). Its instrument handles are produced with its patented plastic thermal assembly process, which is designed to withstand the intense heat produced during frequent sterilizations. Implant-Specific Instruments: The company’s implant-specific instruments include customized reamers, cutting blocks, broaches, rasps, guides, and other instruments designed to accommodate the size, shape, and other features of its customers’ implant systems. These instruments are used by the surgeon to cut and shape bone and cavities during the surgical procedure, and to align and fit the implant system. Procedure-Specific Instruments: The company also manufactures independently developed instruments, referred to as its Symmetry-branded products. Its Symmetry-branded products include hip and knee revision systems and a new spinal system. Instruments that make up revision systems, which are used to remove orthopedic implants, are designed for a specific type of procedure and could be used to remove various brands of implants. These self-contained systems include an assortment of osteotome blades that assist the surgeon in separating an implant from cement or bone in-growth where access is limited, while minimizing damage to the bone. Cases The company produces a range of plastic, metal, and hybrid cases used in approximately 25 medical device markets, including orthopedic, spinal, arthroscopy, osteobiologic, endoscopy, cardiovascular, dental, ophthalmology, diagnostic imaging, and ear, nose, and throat surgical procedures. Cases are used to store, transport, and arrange implant systems and other medical devices and related surgical instruments. Its cases are designed to allow for sterilization and re-use after an implant or other surgical procedure is performed. Its plastic cases are designed to withstand the intense heat produced during the sterilization process. The company also produces standard cases, which are primarily used in the non-orthopedic market segments. It also offers medical containers, which are used by hospitals to hold instruments when they are sterilized. Orthopedic Cases: The company produces custom metal, plastic, and hybrid cases designed to store, transport, and arrange surgical instruments and related implant systems for orthopedic device manufacturers. Proper identification of instruments, such as reamers (which are included in a range of sizes in 1 to 2 millimeter increments), is critical in orthopedic implant procedures. Its graphics and thermo formed tray pockets provide an arrangement to assist surgeons during procedures. Endoscopy Cases: The company produces cases for endoscope sterilization utilizing the various types of sterilization methods. Dental Cases: The company produces cases used in dental implant and general dental procedures. Dental implant cases are complex and include various levels of trays, while cases used in general dental procedures tend to be smaller and less complex. Sterilization Containers: The company produces Ultra Container System, which is designed for the sterilization of various surgical instruments. This product is primarily sold directly to hospitals through Symmetry Surgical segment. Other Cases: The company also manufactures and sells cases for arthroscopy, osteobiologic, cardiovascular, ophthalmology, diagnostic imaging, and ear, nose, and throat procedures. Additionally, it sells sterilization containers through Symmetry Surgical segment. Other (Specialized Non-Healthcare Products) The company offers specialized non-healthcare products on a limited basis, primarily focused on the aerospace industry. Its aerospace products consist primarily of net shaped aerofoils and non-rotating aircraft engine forgings produced for its aerospace customers. Additionally, its offering in the aerospace industry includes aerospace machining capabilities. SYMMETRY SURGICAL This segment offers a range of reusable stainless steel and titanium surgical hand-held instruments and retractor systems, sterile disposable surgical products (vein strippers, SECTO dissectors, tonsil sponges, and surgical marker pens), and sterilization containers. These products are used in the surgical specialties of spine, general/obstetrics/gynecology, microsurgery/neurosurgery, orthopedics, laparoscopy, cardiovascular, thoracic, and general surgery in the hospital setting, as well as surgery centers and in select physician offices. This segment markets and distributes products to hospitals and other sites of care in the U.S., as well as in approximately 60 additional countries worldwide. It offers approximately 20,000 different products. The company’s brands include SYMMETRY, BOOKWALTER Retractor Systems, OPTI-LENGTH Extended Length Surgical Instruments, QUAD-LOCK Sterilization Container Systems, RAPIDCLEAN Detachable Kerrison Rongeurs, CLASSIC PLUS and CLASSIC Surgical Instruments, GREENBERG Neurosurgical Retractor System, KARLIN Surgical Instruments, MAGNAFREE Non-Magnetic Surgical Instruments, FLASHPAK, OLSEN, RILEY, ULTRA, and ACCESS SURGICAL that are used by clinicians and hospital customers. The company’s reusable general surgical instruments are used in the operating room. In addition, it sells other ancillary products, including sterilization containers, disposable instrumentation, fiber optic light sources, and non-toxic enzymatic detergent. General Surgical Instruments and Related Products The company distributes a range of general surgical instruments directly to hospitals and other sites of care. These instruments comprise retracting, cutting, dissecting, grasping, cauterizing, ligating, coagulating, hot blade cutting, and bi-polar and mono-polar instruments — both reusable and disposable instruments. Majority of these instruments are sold into operating room settings, including neurology, orthopedics, ophthalmology, ENT, reconstructive, cardiovascular, thoracic, vascular, laparoscopic, gynecology, and general surgery. Customers OEM Solutions: The company’s customers include orthopedic device manufacturers, including Biomet Inc.; DePuy Orthopaedics, Inc., a subsidiary of Johnson & Johnson; Medtronic Inc.; Smith & Nephew Plc; Stryker Corp.; and Zimmer Holdings, Inc., as well as a range of start-up and smaller companies in hip, knee, trauma, spine, and extremities. It also has established relationships, primarily through its case product offerings, with medical device manufacturers and distributors in various other medical device market segments, including Cardinal Health, Inc.; Karl Storz; Edward Lifesciences; and St. Jude Medical Inc. In 2011, it sold its products to approximately 650 customers. Symmetry Surgical: The company’s hospital customers include clinicians, OR directors, hospital materials management, hospital central sterilization, multi-hospital strategic sourcing entities, and group purchasing organizations. In 2011, the company sold its products to approximately 1,500 customers. Acquisitions In August 2011, the company acquired PSC Industries, Inc.’s Olsen Medical division, which manufactures a line of single-use and reusable bipolar and monopolar forceps, cords, electrosurgical pens/pencils, electrodes, and accessories. Olsen Medical’s products are primarily sold in the U.S. and internationally through distributors. In December 2011, the company acquired the surgical instruments business of Codman & Shurtleff, Inc. (Codman), which distributes surgical instruments and sterile disposable surgical products directly to hospitals. The addition of Codman allows the company to offer a range of medical instruments and related products. Codman’s products are primarily sold in the U.S. and internationally through distributors. Competition The company competes with multi-national branded instrument companies, including Asculap, V. Mueller, and Integra. History Symmetry Medical Inc. was founded in 1976.

 CONTACT: Symmetry Medical Inc.
         Fred L. Hite
         Senior Vice President
         Chief Financial Officer
         (574) 371-2218

         Investors:
         The Ruth Group
         Zack Kubow
         (646) 536-7020
         zkubow@theruthgroup.com
 

 (C) Copyright 2013 GlobeNewswire, Inc. All rights reserved.
 

 KEYWORD:          WARSAW
INDUSTRY KEYWORD: Biotechnology
SUBJECT CODE:     Calendar of Events
                  MEDICAL
                   WEBCAST