Symmetry Medical to Acquire DePuy Orthopedic Instrument Facility

Symmetry Medical, an orthopedic device company, has signed a definitive agreement to purchase an orthopedic instrument manufacturing facility from DePuy Orthopaedics for $45 million.

Symmetry and DePuy, a Johnson & Johnson subsidiary, will enter into a supply agreement requiring DePuy to make minimum purchases from the facility for a four-year period following the close of the acquisition. Symmetry said it expects to close the acquisition within 60 days.

Symmetry also has entered into a waiver and amendment to its existing amended credit agreement with Wachovia Bank, which will provide the funding for the acquisition and waivers to remove an earlier reported default status.