Symmetry Picks Up J&J Unit's Surgical Tool Line For $165M

Law360, New York (December 12, 2011, 6:23 PM EST) -- Medical device maker Symmetry Medical Inc. has reached an agreement to buy the surgical instruments business line of Johnson & Johnson unit Codman & Shurtleff Inc. for $165 million, Symmetry announced Monday.

Warsaw, Ind.-based Symmetry said it would combine Codman's surgical instruments product line with an existing unit, called Specialty Surgical Instrumentation, which focuses on direct sales to hospitals, generating up to $100 million in combined annual sales in the $1 billion global market for general surgical instruments.

The deal for Codman's surgical instruments line marks...
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