Symmetry Medical to Acquire Olsen Medical

WARSAW, Ind., Aug. 3, 2011 /PRNewswire/ — 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 signed a definitive agreement to acquire Olsen
Medical, a privately-held, world leader in the design, development and
manufacturing of electrosurgical instruments and accessories. Under the terms of
the asset purchase agreement, Symmetry will acquire Olsen Medical’s assets in an
all cash transaction. The agreement has certain pre-closing conditions that must
be satisfied, and the Company anticipates closing the acquisition by August 15,
2011. Symmetry anticipates that the transaction will be neutral to the Company’s
2011 financial results, excluding acquisition and integration-related charges,
and that it will be accretive to the Company’s 2012 financial results.

Olsen Medical manufactures a full line of single-use and reusable bipolar and
monopolar forceps, cords, electrosurgical pens/pencils, electrodes, and
accessories. The Company’s products are primarily sold in the United States and
internationally through distributors. Olsen Medical’s domestic distributor
network includes Symmetry’s wholly-owned subsidiary Specialty Surgical
Instrumentation (SSI).

Thomas J. Sullivan, President and Chief Executive Officer of Symmetry Medical,
said, “We have partnered with Olsen Medical for several years through our SSI
subsidiary and know them to be innovative, with a strong brand name and market
presence. We have had tremendous success selling Olsen’s products, including
their market leading disposable forceps product family, and are pleased to add
Olsen to our Team. This acquisition is consistent with Symmetry’s strategy to
complement our core business as a medical device supplier with growth in our
direct hospital business through expanded products and territories that are
consistent with our expertise and market segments.”

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.

Contact: Investors and Media:
Symmetry Medical Inc. The Ruth Group
Fred L. Hite Zack Kubow
Senior Vice President (646) 536-7020
Chief Financial Officer zkubow@theruthgroup.com
(574) 371-2218

SOURCE Symmetry Medical Inc.