RoundTable Healthcare Partners said it paid $140.3 million for Symmetry Surgical, the legacy business formed after Symmetry Medical sold its orthopedics OEM operation to Tecomet in 2014.
Nashville-based Symmetry Surgical makes reusable, reposable and single-use surgical instrumentation and specialty devices. RoundTable said it expects to close the deal late in the 2nd quarter or early in the 3rd.
The Lake Forest, Ill.-based private equity shop said it plans to leave president & CEO Thomas Sullivan in charge of Symmetry Surgical and named senior operating partner Thomas Kapfer as chairman.
“We are very excited to partner with Symmetry,” Kapfer said in prepared remarks. “The company’s comprehensive product portfolio is comprised of well-known brands that are recognized by hospitals and physicians worldwide. We look forward to working with the management team as they continue to serve their customers and grow the business.”
“We are thrilled to announce our second investment from our fourth equity fund,” added RoundTable founding partner Lester Knight. “This investment continues our now 15-year strategy of focusing on companies that can benefit from our operating and transaction expertise.”
Symmetry Medical divested its OEM solutions business to contract manufacturer Tecomet for $450 million back in the summer of 2014, aiming to stay ahead of a predicted wave of consolidations in the OEM solutions market. At the same time the company granted shareholders a single share of Symmetry Surgical stock for every 4 shares of Symmetry Medical stock.
The post Private equity shop RoundTable Healthcare picks up Symmetry Surgical for $140m appeared first on MassDevice.
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