Surgical Specialties to Acquire Leading German Needle and Suture Manufacturer

Braintree, MA/ Jestetten, Germany (ots) - Creates one of the
largest global manufacturers of needles used in medical devices;
Parallel Surgical Specialties debt refinancing completed with
improved terms and provides acquisition funding

Surgical Specialties Corporation ("Surgical
Specialties","Company"), a leading provider of branded, private
label, and OEM medical devices for advanced surgery, wound closure,
ophthalmology, and radiology announced today that it has acquired all
shares of FSSB Chirurgische Nadein GMBH (FSSB) and affiliated
entities. Terms were not disclosed. The acquisition will be
immediately accretive to both Surgical Specialties' sales and
adjusted EBITDA.

FSSB was founded in 1995 by current managing directors Henry
Frenzel and Joachim Brohammer and two others. They provide a broad
range of needles for use in surgery including micro, ophthalmic and
standard surgical needles. FSSB also works with partners to attach
the needles to sutures used in ophthalmic, cardiovascular and
sternotomy procedures. FSSB has developed highly automated and
proprietary manufacturing technology that produces very high quality
needles and is very scalable. FSSB is headquartered in Jestetten,
Germany with manufacturing in Jestetten and a larger manufacturing
plant in Poessneck, Germany.

"The combination of FSSB and Surgical Specialties immediately
creates one of the largest, if not the largest manufacturer of
surgical needles globally," commented Victor Diaz, President and
Chief Operating Officer of Surgical Specialties. "The combined
companies will offer a broader range of products and services both in
terms of bulk needles and needles sold with attached sutures to our
OEM, branded and private label customers. The degree of FSSB process
automation will ensure delivery of high quality needles to our
customers in a flexible and cost effective fashion. We are very
pleased that Henry and Joachim have agreed to join Surgical
Specialties and continue to manage the FSSB business."

Henry Frenzel said, "Joachim and I are proud of the company we
have built in FSSB. Together with our employees we have created
leading positions in needle and suture manufacturing with a strong
and diverse set of customers." Joachim Brohammer added: "The
combination of the FSSB and Surgical Specialties should allow us to
meaningfully expand our needle business while continuing to provide
the highest level of service to our customers. We look forward to
working with Victor and the Surgical Specialties team to make that
growth a reality."

The Company financed the transaction through a new $147 million
commercial banking facility. The facility allowed Surgical
Specialties to refinance its existing debt under more attractive
terms, finance the purchase of all outstanding FSSB shares and put in
place a revolver line of credit that provides flexibility for future
investments. Bank of America, N.A. served as Administrative Agent,
Swingline lender and L/C Issuer. Merrill Lynch, Pierce, Fenner &
Smith Inc., Citizens Bank, N.A. and Capital One served as Joint Lead
Arrangers and Book Runners. Santander and TD Bank, N.A. were
documentation agents. Also participating in the facility were First
Niagara Bank, N.A. and Webster Bank.

"FSSB is an example of our strategy to balance continuing organic
growth with focused acquisitions that complement and strengthen our
products and services while immediately adding to revenue and EBITDA
growth," said John Barr, Surgical Specialties CEO. "FSSB provides us
with proprietary technology that has the potential to create a true
competitive advantage in the manufacture of needles sold both in bulk
and as part of our OEM, branded and private label suture products. We
also want to thank our banking partners for their flexibility and
willingness to help fund the transaction and refinance our debt under
more favorable terms than our prior credit facility."

About Surgical Specialties Corporation

Surgical Specialties Corporation has developed and manufactured
branded, private label and OEM surgical instruments for over 40
years. Surgical Specialties Corporation offers one of the most
comprehensive portfolios of blades and sutures available, including
innovative products such as the Quill Knotless Tissue-Closure Device.
Headquartered in Braintree, MA, Surgical Specialties Corporation
devotes itself to exceeding the needs of the specialty surgery
market, having trusted partnerships within dental, ophthalmic,
plastic surgery, dermatology, orthopedics, urology, microsurgery,
veterinary and trauma specialties. Visit us at
www.surgicalspecialties.com.

MEDIA CONTACT:
Daniel Sutherby, Surgical Specialties Corporation
dsutherby@surgicalspecialties.com