Symmetry Medical has signed a definitive agreement to acquire electrosurgical instruments and accessories provider Olsen Medical.
Olsen Medical manufactures a full line of single-use and reusable bipolar and monopolar forceps, cords, electrosurgical pens/pencils, electrodes, and accessories.
Olsen’s products are primarily sold in the US and internationally through distributors, including Symmetry’s wholly-owned subsidiary Specialty Surgical Instrumentation.
Symmetry Medical president and CEO Thomas Sullivan said the acquisition is consistent with the company’s strategy to complement core business as a medical device supplier with growth in direct hospital business through expanded products and territories that are consistent with their expertise and market segments.
The agreement has certain pre-closing conditions that must be satisfied, and the Symmetry Medical anticipates closing of the acquisition by 15 August 2011.