Symmetry Surgical (SSRG) To Be Acquired by RoundTable Healthcare for $13.10 Per Share

Bolton Flautt  |

52-week highs are usually synonymous with acquisition news and yesterday; Symmetry Surgical (SSRG) announced that RoundTable Healthcare Partners would acquire it for $13.10 per share in cash. In early trading, shares of Symmetry Surgical were up 24 percent at $12.94 per share on volume of 65,000 shares. Symmetry Surgical has a market capitalization of $139 million and an average daily volume of 14,315 shares. The company’s 52-week range is between $7.65 and $12.97 per share.

Under the terms of the agreement, Symmetry shareholders will receive $13.10 in cash for each share of Symmetry common stock, representing a 26 percent premium to the closing price of the Company’s common stock on April 29, 2016. Symmetry’s Board of Directors unanimously approved the agreement.

“The sale of Symmetry to RoundTable will provide our shareholders with immediate and substantial cash value, as well as a compelling premium, and the Board has unanimously agreed that this transaction is in the best interests of all our stakeholders,” said Craig B. Reynolds, Chairman of Symmetry’s Board of Directors, in a press release.

Revenue for the first quarter 2016 was $21.2 million, up 2.2 percent compared to $20.8 million in the first quarter 2015. The Company ended the quarter with $11.2 million in cash and no debt, up from $8.1 million at the beginning of the quarter.

Symmetry is a Nashville, Tennessee based provider of surgical instruments under popular brands such as Bookwalter, Greenberg, Olsen, Symmetry, Sharp Kerrison, Flash Pak, Classic, Classic Plus, Secto, Quad-Lock, Rapidclean, Magnafree, Midas Touch, Microsect, Ultra Instruments, Multipak, Access Surgical International, Riley Medical, Transpak, Opti-Length, The Ultra System, Bookwalter Rotilt, Symmetry Access, and Vesocclude.

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Symbol Name Price Change % Volume
SSRG Symmetry Surgical Inc. n/a n/a n/a 0 Trade

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