Synergetics Grows Ophthalmics Business With Purchase of Sterimedix

Synergetics USA has snapped up Sterimedix, a UK manufacturer and distributor of cannulas, needles and other disposables for ophthalmic and aesthetic procedures, for $13.5 million in cash.

The deal expands the O’Fallon, Mo., devicemaker’s distribution footprint outside the U.S “Sterimedix fits squarely with our strategy to identify strong ophthalmic businesses to enhance our company’s long-term revenue growth and profitability,” said Synergetics President and CEO David Hable.

Sterimedix had total sales of about $6.4 million in 2013, and revenues for the current year are expected to increase by about 15 percent based on a constant currency basis, Synergetics said. In addition to the cash payment, the deal provides for potential gross profit margin earn-outs through December 2017, the company added.

Hable said the acquisition is expected to have a positive impact on fiscal 2015 operating and net income. — Meg Bryant

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