• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Symmetry Medical sells its OEM biz to Tecomet for $450M

Symmetry Medical sells its OEM biz to Tecomet for $450M

August 4, 2014 By Arezu Sarvestani

Symmetry Medical sells its OEM biz to Tecoment for $450M

Symmetry Medical’s (NYSE:SMA) going through some big changes, selling off its orthopedics components division and spinning out its surgical business.

Symmetry agreed to divest its OEM solutions business to contract manufacturer Tecomet for $450 million, saying the move will help it stay ahead of a predicted wave of consolidations in the OEM solutions competitive market.

The device maker also announced that it would transfer its surgical division to shareholders of record, granting them 1 share of the new public company for each 4 shares of Symmetry Medical stock.

"We are excited to reach this agreement with Tecomet, which will recognize the value of the OEM Solutions business and enhance the growth potential of Symmetry Surgical," president & CEO Thomas Sullivan said in prepared remarks. "It also provides liquidity for our shareholders along with the upside potential of Symmetry Surgical as a well-positioned, standalone company focused on the large global market for surgical instruments.”

Symmetry cited a fleet of reasons for the reorganization, chief among them its desire to pursue strategic acquisitions to "maintain a leadership position" as consolidations become more popular. Other rationale included the need to separate OEM solutions from Symmetry Surgical in order to avoid "customer conflicts" and protecting the surgical business from volatility in the OEM market.

The announcement preceded a big boost in SMA shares, which gained 8.9% to trade at $9.59 as of about 3:10 p.m. EST. The stock has dropped 4.9% since the start of the year.

Filed Under: News Well, Orthopedics, Surgical, Wall Street Beat Tagged With: Symmetry Medical Inc., Tecomet Inc.

More recent news

  • Medtronic Diabetes names CFO with consumer experience ahead of separation
  • Preceptis Medical has a new CEO as it advances ear tube tech
  • FDA clears first over-the-counter cuffless blood pressure monitor
  • Mendaera wins FDA clearance for robotic needle placement
  • Johnson & Johnson seeks to have $442 million antitrust verdict tossed out

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy