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Update on Codman’s Agreement with Symmetry

On December 12, 2011, Codman & Shurtleff, Inc., and Symmetry Medical Inc. announced a definitive agreement for Symmetry to acquire Codman’s instruments portfolio and market these products under the Symmetry Surgical name. This transaction is limited to Codman’s instruments portfolio, which includes reusable stainless steel and titanium surgical instruments and retractor systems, sterile disposable surgical products (vein strippers, SECTO dissectors, tonsil sponges and surgical marker pens), and sterilization containers. This agreement was completed on December 29, 2011, and we are in the process of transferring the business while ensuring a smooth transition for all of our instruments customers. For now, there is no change to current ordering methods or sales support for the business. Instrument customers can expect to be served by current sales representatives. As the business is transferred over the next several months, you will be contacted by Symmetry Surgical to provide advance notice of forthcoming changes. Please be assured that we are committed to maintaining continuity of our product supply, quality and service throughout this process.

You can learn more about our agreement on SSI’s Website.

Codman is focused more than ever on advancing our neurosurgical, interventional neurovascular and neuromodulation business. The recent acquisition of Micrus Endovascular and our launch of the CODMAN® CERTAS™ Programmable Valve are good examples of the investments we are making. The instruments business spans many surgical specialties, and we expect this agreement with SSI to further focus Codman’s overall neuro device efforts.

The transaction does not impact any other Codman products. Codman will continue to sell products across our broad neuro device portfolio, which includes electrosurgery products, perforators, shunts/valves, pumps, neuro critical care and neurovascular products. We will continue to devote our resources to opportunities for growth within the neuro space. Explore our Website to learn more about our offerings.

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