As per the deal, Symmetry will serve as a manufacturer of implants, instruments and cases, and provide engineering resources, inventory management, warehousing and full supply chain management services through its Total Solutions offering.
New product development services will be provided by Symmetry’s Design and Development Center. Finished products and kitted sets will be shipped direct from Symmetry to distributors and hospitals.
Revenues to Symmetry from the supply of products, supply chain management and product development services agreement are expected to be approximately $3m in 2010. In addition, the company will receive fees for inventory management, warehousing, and supply chain management services.
Brian Moore, president and chief executive officer of Symmetry Medical, said: “Our agreement with OrthoPediatrics is consistent with our strategy to deliver more Total Solutions services to our customers, from prototype manufacturing to delivery and supply chain management.
“By providing a top to bottom solution, we expect to be able to help OrthoPediatrics decrease their cost and significantly improve time to market with their products. We are confident that Symmetry is well positioned to continue expanding these types of complete services to both our large and small customers.”
