Spectra Medical Devices Acquires XL Precision Technologies

Spectra Medical Devices, a QHP Capital portfolio company, has closed the acquisition of XL Precision Technologies (XL-PT). XL-PT is now a wholly-owned subsidiary of Spectra.
 
XL-PT is a contract development and manufacturing organization (CDMO) that specializes in manufacture of precision micro-components, complex tubular components, and sub-assemblies for the medical device industry.
 
Spectra said the deal combines companies with complementary strengths and boosts its ability to serve industry-leading medical device OEMs. The merged development and manufacturing capabilities are expected to create significant growth over the years and solidify Spectra’s role as a CDMO partner.
 
“We are thrilled to announce Spectra’s acquisition of XL-PT. 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. “By combining the commercial reach, procedural needle manufacturing expertise, and scale of Spectra with XL-PT’s robust development services and precision manufacturing capabilities, we are equipped to deliver even greater value to customers and meet a broader set of customer needs.”
 
“The combination of XL-PT and Spectra brings together highly complementary capabilities: Spectra’s reputation for quality and blue-chip customer base and XL-PT’s exceptional engineering platform and advanced manufacturing techniques. We are excited to join forces with Spectra. This creates a CDMO ideally positioned to serve medical device emerging innovators and OEMs,” added Tom Graham, managing director of XL-PT.