WARSAW, Ind. (AP) – Symmetry Medical Inc. said it bought the surgical instruments business of Codman & Shurtleff, a unit of Johnson & Johnson, for $165 million.
Symmetry announced the all-cash deal earlier this month. It plans to combine Codman with its own Specialty Surgical Instruments business. It said the surgical business should have more than $100 million in annual sales. It expects the deal to break even on a per-share basis in 2012.
Including the acquisition, Symmetry Medical said it expects revenue of $410 million to $425 million in 2012. Analysts expect the company to report $380.6 million in revenue, according to FactSet.
Date: December 29, 2011
Source: Associated Press
