Symmetry Medical Inc. (NYSE:SMA), a leading global source of innovative medical device solutions, including orthopedic implants, surgical instruments, and sterilization cases and trays, announced today that it has launched the ElbowLOC(TM) Arm Positioning System through its wholly owned subsidiary Specialty Surgical Instrumentation (SSI). The ElbowLOC system, which is sold under the ACCESS Arthroscopy brand, is available to customers now through SSI’s interactive, e-commerce website at www.specsurg.com.
The ElbowLOC system is a new positioning device that utilizes supine patient positioning for surgical procedures of the elbow. The features and benefits of the ElbowLOC System include:
-- Designed for efficient patient positioning -- Promotes shorter procedural times -- Provides surgeon a stable platform for elbow surgical procedures -- Eliminates the need for intraoperative arm traction devices
The ElbowLOC system was designed by A. Lee Hunter, Jr., MD, MBA and co-designed and developed for commercialization by Dr. Hunter and Symmetry Medical. Dr. Hunter is an orthopedic surgeon specializing in upper extremity surgery from the Middle Tennessee Bone & Joint Clinic in Columbia, TN. Symmetry holds an exclusive world-wide license from Dr. Hunter for the intellectual property associated with the ElbowLOC system.
Dr. Hunter commented, “In my opinion, the ElbowLOC provides better stability and more functional positioning for elbow surgical procedures than any other available arm positioner. The use of the ElbowLOC can save significant time in each surgical case.”
Thomas J. Sullivan, President and Chief Executive Officer of Symmetry Medical, said, “The launch of the ElbowLOC Arm Positioning System demonstrates Symmetry and SSI’s commitment to bringing innovative new products to our customers. We co-developed the ElbowLOC system with Dr. Lee Hunter, leveraging our research teams’ strong design and development capabilities. The system is complementary to SSI’s existing offering of arthroscopic and surgical instruments for elbow procedures.”
Mr. Sullivan added, “The launch of the ElbowLOC system is also consistent with our strategy to increase sales of proprietary, IP-backed innovative medical device solutions, which drive improved gross margins and profitability.”
About Symmetry Medical Inc.
Symmetry Medical Inc. is a leading global source of innovative medical device solutions, including orthopedic implants, surgical instruments, and sterilization cases and trays. The Company’s nearly 3,000 Teammates provide design, development and worldwide production capabilities for these products to customers in the orthopedic industry, other medical device markets, and specialized non-healthcare markets. Symmetry’s trusted reputation and brands, broad Intellectual Property portfolio and commitment to innovation enable it to collaborate with hundreds of global medical device manufacturers as well as thousands of hospitals to provide solutions for today’s needs and tomorrow’s growth.
Forward Looking Statements
Statements in the press release regarding Symmetry Medical Inc.’s business which are not historical facts may be “forward-looking statements” that involve risks and uncertainties, within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictive in nature and are frequently identified by the use of terms such as “may,” “might,” “will,” “should,” “expect,” “believe,” “anticipate,” “plan,” “estimate,” “intend,” and similar words indicating possible future expectations, events or actions. Such predictive statements are not guarantees of future performance, and actual outcomes and results could differ materially from our current expectations. We refer you to the “Risk Factors” and “Forward Looking-Statements” sections in the Company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission as well as the Company’s other filings with the SEC, which are available on the SEC’s Web site at www.sec.gov.
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CONTACT: Symmetry Medical Inc. Fred L. Hite Senior Vice President Chief Financial Officer (574) 371-2218 Investors: The Ruth Group Zack Kubow (646) 536-7020 firstname.lastname@example.org