Symmetry Surgical will acquire Bovie Medical Corp.'s electrosurgical business and related intellectual property — including the Bovie brand — for $97 million.
Here's what you should know:
1. Bovie develops, manufactures and markets generators, electrodes, cauteries and accessories for daily use in physicians' offices, surgery centers and hospitals.
2. The acquisition complements Symmetry's Olsen energy portfolio and expands its single-use surgical products offerings.
3. The transaction is expected to close in the third quarter of 2018.
4. Symmetry Surgical is a portfolio company of RoundTable Healthcare, an operating-oriented, healthcare-focused private equity firm. RoundTable acquired Symmetry in 2016 to develop a focused specialty surgical business.
"The Bovie brand is synonymous with electrosurgery and recognized by hospitals and physicians worldwide," said Symmetry President and CEO Brian J. Straeb. "This exciting acquisition enables us to address a wider range of our customers' needs and gives Symmetry an opportunity to further establish itself as a key player in the growing bipolar and monopolar energy markets."