01.22.15
Schaumburg, Ill.-based Sparton Corporation’s subsidiary, Sparton Design Services LLC, has completed the acquisition of Real-Time Enterprises Inc. (RTEmd), which will continue to serve its customers from its Pittsford, N.Y. location. Sparton Design Services provides design services for electromechanical devices, while RTEmd develops embedded software to operate medical devices and diagnostic equipment. The deal was closed on Jan. 10 in an all-cash transaction. The terms of the deal were not disclosed.
RTEmd has expertise in software for patient monitoring, medical imaging, in-vitro diagnostics, electro-medical systems, surgical applications, ophthalmology, nephrology, infusion pumps and medical imaging. The purpose of RTEmd’s software is to reduce its clients’ risk by executing the regulatory strategies for medical device compliance.
“A key component of our strategic vision is to realize synergistic acquisition opportunities that add value to our core portfolio of products and services,” said Cary B. Wood, president and CEO of Sparton Corp. “Our acquisition of RTEmd aligns precisely with this vision and presents the opportunity to provide enhanced customer value. RTEmd’s capabilities complement our extensive electrical and mechanical design and manufacturing skills within the medical and biotechnology markets. Additionally, RTEmd brings a highly skilled group of professionals with over 30+ years of development and regulatory experience with complex U.S. Food and Drug Administration-compliant products.”
“We are excited to join the Sparton team,” said Bob Ruppenthal, president of RTEmd. “With the additional support and enhanced capabilities Sparton has to offer, we will be able to provide our customers with additional value and access to other integrated services to meet their design and manufacturing needs.”
Wood went on to say that the newly integrated companies will continue to keep the customer at the center of their focus. Sparton expects the acquisition to be accretive to earnings within the next nine to 12 months.
RTEmd has expertise in software for patient monitoring, medical imaging, in-vitro diagnostics, electro-medical systems, surgical applications, ophthalmology, nephrology, infusion pumps and medical imaging. The purpose of RTEmd’s software is to reduce its clients’ risk by executing the regulatory strategies for medical device compliance.
“A key component of our strategic vision is to realize synergistic acquisition opportunities that add value to our core portfolio of products and services,” said Cary B. Wood, president and CEO of Sparton Corp. “Our acquisition of RTEmd aligns precisely with this vision and presents the opportunity to provide enhanced customer value. RTEmd’s capabilities complement our extensive electrical and mechanical design and manufacturing skills within the medical and biotechnology markets. Additionally, RTEmd brings a highly skilled group of professionals with over 30+ years of development and regulatory experience with complex U.S. Food and Drug Administration-compliant products.”
“We are excited to join the Sparton team,” said Bob Ruppenthal, president of RTEmd. “With the additional support and enhanced capabilities Sparton has to offer, we will be able to provide our customers with additional value and access to other integrated services to meet their design and manufacturing needs.”
Wood went on to say that the newly integrated companies will continue to keep the customer at the center of their focus. Sparton expects the acquisition to be accretive to earnings within the next nine to 12 months.