WARSAW, Ind., Jan. 25 /PRNewswire-FirstCall/ -- Symmetry Medical Inc. , a leading independent provider of products to the global orthopedic device industry and other medical markets, announced today it has entered into an exclusive five-year supply agreement with OrthoPediatrics Corp., a Warsaw, Indiana-based bio-science company that develops, designs and distributes anatomically appropriate orthopedic implants and solutions for pediatric and small stature patients.
Revenues to Symmetry from the exclusive supply of products, supply chain management and product development services agreement are expected to total approximately $3 million in 2010. In addition, Symmetry will receive fees for inventory management, warehousing, and supply chain management services. The nature of the agreement enables Symmetry to participate in the success of OrthoPediatrics and their new product introductions in the market.
“This is a unique offering not typically seen in the orthopedics industry and will bring a level of efficiency to OrthoPediatrics that only comes with years of experience,” said Nick Deeter, OrthoPediatrics Co-Founder, Chairman, President and CEO. “Symmetry is a great match for OrthoPediatrics. They are a strong company with an entrepreneurial team that believes in our cause to help children.”
About Symmetry Medical, Inc.
Symmetry Medical Inc. is a leading independent provider of implants and related instruments and cases to the orthopedic device industry. The Company also designs, develops and produces these products for companies in other segments of the medical device market, including arthroscopy, dental, laparoscopy, osteobiologic and endoscopy sectors and provides limited specialized products and services to non-healthcare markets, such as the aerospace market. For more information, please visit www.SymmetryMedical.com.
CONTACT: Symmetry Medical Inc.: Fred L. Hite, Senior Vice President, Chief
Financial Officer, +1-574-371-2218, or For Investors: The Ruth Group, Nick
Laudico, +1-646-536-7030, nlaudico@theruthgroup.com, or R.J. Pellegrino,
+1-646-536-7009, rpellegrino@theruthgroup.com, or For Media: The Ruth
Group, Jason Rando, +1-646-536-7025, jrando@theruthgroup.com
Web site: http://www.SymmetryMedical.com/
