The decline was driven by lower sales in the company’s OEM Solutions segment, which was partially offset by growth in the Symmetry Surgical segment. The company’s revenue decline includes lower sales among its five largest orthopedic OEM customers of $11.9 million due to sluggish procedure growth.
The company acquired Olsen Medical Solutions during the fourth quarter of 2011. Full year revenue for the company was $359 million, a slight decrease from 2010. However, the OEM Solutions segment revenue dropped by $7.5 million in 2011.
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