Spectra Medical Devices Acquires XL Precision Technologies
Summary
The acquisition brings together companies with complementary strengths, enhancing Spectra’s ability to serve industry-leading medical device original equipment manufacturers (“OEMs”). The combined development and manufacturing capabilities are expected to generate significant growth over the coming years and further solidify Spectra’s position as a CDMO partner of choice. This acquisition expands and enhances our development and manufacturing capabilities allowing us to do more for our customers and the medical device community,” said Chad Nikel, CEO of Spectra. This creates a CDMO ideally positioned to serve medical device emerging innovators and OEMs,” added Tom Graham, Managing Director of XL-PT. XL-PT utilizes laser, electrical discharge machining (EDM), and other advanced manufacturing technologies to serve a wide range of medical applications, including cardio- and neurovascular, endoscopy and laparoscopy, sports medicine, ophthalmology and drug delivery.