Lake Forest, Illinois-based RoundTable Healthcare Partners recently announced an agreement to acquire Symmetry Surgical, Inc. RoundTable states that the acquisition will provide a new platform in surgical instrumentation and specialty devices. According to the press release, RoundTable will acquire Symmetry for a total equity value of approximately $140.3 million. Thomas P. Kapfer, a Senior Operating Partner of RoundTable, will serve as Chairman of the Board of Symmetry. Regarding the acquisition, Mr. Kapfer stated that:
We are very excited to partner with Symmetry. 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.
Symmetry is a Nashville, Tennessee-based marketer of reusable, reposable, and single-use surgical instrumentation and specialty devices. These devices include a comprehensive variety of surgical instruments, such as calipers, cannulas, curettes, needles, scalpels, specula, and tubes. The press release states that Symmetry’s portfolios include well-known brands such as BOOKWALTER®, GREENBURG®, OLSEN®, QUAD-LOCK®, RAPID CLEAN®, RILEY MEDICAL®, SHARP KERRISONTM, ULTRA INSTRUMENTS®, and VESOCLUDETM.
Craig Reynolds, the Chairman of Symmetry’s Board of Directors, stated that:
The sale of Symmetry to RoundTable will provide our shareholders with immediate and substantial cash value . . . and is in the best interest of all our stakeholders.
Nasdaq’s GlobNewswire describes RoundTable as a private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its industry relationships and operating expertise and has raised $2.75 billion in committed capital.