Tecomet Acquires Symmetry Medical’s OEM Solutions Business
Wilmington, Mass.-based Tecomet said Monday it has inked a definitive agreement to buy Symmetry Medical’s OEM Solutions business for $450 million.
The combined companies will create a large contract manufacturing enterprise capable of meeting growing international demand, said Tecomet CEO Bill Dow. OEM Solutions makes high precision surgical instruments, orthopedic implants and plastic and metal sterilization cases and trays and sells them to devicemakers worldwide, who market them under their brand names.
OEM Solutions has over 450 worldwide customers and employs 2,300 workers at 123 facilities in the U.S., UK and Ireland. The company’s headquarters are in Warsaw, Ind.
The deal is expected to close in the fourth quarter of this year. — Kellen Owings
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