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Symmetry Medical Stockholders Approve Sale of Its OEM Solutions Business and Separation of Symmetry Surgical Inc.

WARSAW, Ind., Dec. 4, 2014 (GLOBE NEWSWIRE) -- Symmetry Medical Inc. (NYSE:SMA), a leading global source of innovative medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays, today held a special stockholder meeting at which:

  1. Stockholders representing 85.17% of the outstanding shares of common stock of Symmetry Medical entitled to vote thereon approved the definitive merger agreement among Symmetry Medical, TecoStar Holdings Inc., Tecomet Inc., and TecoSym Inc., dated as of August 4, 2014 by a margin of 98.87% in favor and 0.38% opposed with 0.74% abstaining. Pursuant to the terms of the merger agreement, the merger will result in the sale of Symmetry Medical's OEM Solutions business to affiliates of Tecomet and the concurrent transfer to Symmetry Medical stockholders of shares in a new company holding the Symmetry Surgical business, Symmetry Surgical Inc.
  2. Stockholders representing 57.86% of the outstanding shares of common stock of Symmetry Medical entitled to vote thereon approved certain compensation payable or that could become payable to Symmetry Medical's named executive officers in connection with the merger agreement by a margin of 67.16% in favor and 31.83% opposed with 0.99% abstaining.

Symmetry Medical expects to complete the transaction promptly following the date hereof, subject to customary closing conditions.

About Symmetry Medical Inc.

Symmetry Medical Inc. is a leading global source of innovative medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays. The Company's thousands of 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.

CONTACT: The Ruth Group Zack Kubow (646) 536-7020 zkubow@theruthgroup.comSource:Symmetry Medical Inc.