Symmetry Surgical Inc. recently announced that it has signed an exclusive distribution agreement with Irish medical devices company neoSurgical Ltd. in the U.S., for the latter’s neoClose Trocar Port Closure System. The company will start selling the product from the first quarter of 2015.

Notably, in 2013, neoSurgical had received the United States Food & Drug Administration (FDA) go ahead to market the product. The product is usually used for the closure of Trocar ports used in robotic and laparoscopic surgical procedures.

Ever since the product’s initial rollout, it has been getting positive reactions from surgeons and clinicians. The product has been touted as a user friendly one, which is able to close 5mm to 15mm trocar ports quickly.

Recently, Symmetry Surgical separated from Symmetry Medical and began trading independently on the NASDAQ. Symmetry Medical also completed the divestiture of its OEM solutions business unit to Tecomet Inc. The OEM business sale is expected to boost the growth potential of Symmetry Surgical.

The re-usable surgical instruments market is currently worth almost $1 billion and Symmetry Surgical is estimated to have an approximate 8–9% share of it. However, this is only a minuscule part of the general surgery devices segment, which is estimated to be worth $18 billion.

Thomas J. Sullivan, Symmetry Surgical's President and Chief Executive Officer, said, "We are pleased to enter an exclusive distribution agreement in the United States with neoSurgical for its unique neoClose Trocar Port Closure System.

“neoSurgical has received positive physician feedback on the neoClose system in its pilot launch, which gives us confidence that it will be well received in a national launch. Symmetry Surgical is ideally positioned to drive adoption of the neoClose System with our U.S. sales force, broad customer relationships and strong complementary product offerings in laparoscopic surgical instruments and accessories."