Symmetry Medical , an instrument supplier to orthopedic devices makers, has introduced a novel arm positioning system geared for improving arthroscopic and open surgical elbow surgeries. The Indiana-based company has launched the new product dubbed ElbowLOC through its fully-owned subsidiary Specialty Surgical Instrumentation (“SSI”).
The ElbowLOC system is a positioning device that uses supine (lying face up) patient positioning for surgeries of the elbow. The new system is now available for sale under the “ACCESS” arthroscopy brand through SSI's website.
The ElbowLOC offers surgeons a stable platform for elbow surgeries and efficient patient positioning. Moreover, it lessens procedural times and eliminates the need for intra-operative arm traction devices. The launch of this innovative system is in tandem with Symmetry’s strategy to boost sales of its proprietary medical devices.
Symmetry is the largest OEM provider of orthopedic implants and instruments to orthopedic devices manufacturers. Its major customers include Johnson & Johnson’s (JNJ - Analyst Report) DePuy, Stryker (SYK - Analyst Report) and Zimmer Holdings . The acquisition of privately-held electrosurgical instruments maker Olsen Medical has enabled the company to further diversify its product range and boost direct hospital business.
Symmetry’s “Total Solutions” approach has differentiated it from the rivals and provided a substantial growth opportunity. The company is investing in revamping its management structure and enhancing customer collaboration, which should support growth. Moreover, Symmetry should benefit from higher demand for its solutions as its major customers ramp up spending and accelerate product launches.
However, Symmetry still faces price and procedure volume pressure on the orthopedic front. Also, the company’s high spending may continue to weigh on its bottom line. Currently we are Neutral on the stock.