XL Precision Technologies Ltd has been acquired by Spectra Medical Devices and is now a wholly-owned subsidiary of Spectra.
XL-PT specialises in the manufacture of precision micro-components, complex tubular components, and sub-assemblies for the medical device industry. It has a track record of developing and manufacturing complex components for their customers with speed and precision.
The acquisition brings together companies with complementary strengths, enhancing Spectra’s ability to serve industry-leading medical device original equipment manufacturers. 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.
“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.
Contact: Tom Graham