Symmetry Teams with UK Distributor - Analyst Blog
28 Febbraio 2013 - 11:30AM
Zacks
Symmetry Surgical, a subsidiary of
orthopedic implants and instruments maker Symmetry Medical,
Inc. (SMA), recently signed a distribution agreement with
renowned UK-based healthcare company, Hospital Innovations. As per
the terms of the deal, Hospital Innovations will distribute
Symmetry Surgical’s surgical instruments in UK.
Hospital Innovations distributes cutting-edge medical devices to
about 400 hospitals across UK. The partnership will enable Symmetry
Surgical to grow its customer base in the European market.
The distribution agreement is in line with Symmetry Surgical’s
focus on worldwide expansion of its business inclusive of all
brands under the erstwhile Codman Surgical Instruments. The company
further plans to expand into other key European countries to gain
healthy revenue opportunities.
Since Symmetry Medical’s core Original Equipment Manufacturer
(“OEM”) Solutions business is facing declining capital spending,
procedural and pricing pressure from the weak global orthopedic
market, the company is focused on expanding its smaller Symmetry
Surgical business.
Earlier, in Nov 2012, Symmetry Surgical collaborated with leading
medical device distributor, MTG Medical Technologies (“MTG”) to
sell its offerings in Europe. MTG, a subsidiary of
Neuro-Competence, distributes cutting-edge yet affordable medical
devices to hospitals located across Germany, Austria, Switzerland,
Czech Republic, Hungary and Slovakia.
In the fourth quarter of 2012, revenues from the smaller Symmetry
Surgical unit jumped 154% to $28.5 million, buoyed by the
acquisition of Codman & Shurtleff, Inc., which contributed
roughly $13.1 million to the division’s sales. Revenues also
include a one-time purchase of an OEM Solutions client worth $2.9
million. Excluding the acquisition and the one-time purchase, sales
increased 10.4% year over year in the quarter.
However, the company currently has a Zacks Rank #4 (Sell), as both
revenues and earnings missed the Zacks Consensus Estimates in the
fourth quarter of 2012. While we remain on the sidelines regarding
Symmetry, companies such as Nuvasive Inc. (NUVA),
Essilor International SA (ESLOY) and
Cyberonics Inc. (CYBX), each carrying a Zacks Rank
#1 (Strong Buy), warrant a look.
CYBERONICS INC (CYBX): Free Stock Analysis Report
ESSILOR INTL SA (ESLOY): Get Free Report
NUVASIVE INC (NUVA): Free Stock Analysis Report
SYMMETRY MEDICL (SMA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Grafico Azioni Essilor Luxottica (PK) (USOTC:ESLOY)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Essilor Luxottica (PK) (USOTC:ESLOY)
Storico
Da Lug 2023 a Lug 2024
Notizie in Tempo Reale relative a Essilor Luxottica (PK) (OTCMarkets): 0 articoli recenti
Più Essilor International (PC) Articoli Notizie