TAGS: Medical
DuPont announced that it has completed the previously announced acquisition of Spectrum Plastics Group (“Spectrum”), a recognized player in specialty medical devices and components markets.
Aligns with Strategic Objectives for Medical Devices and Packaging
“
I am pleased to welcome our talented Spectrum colleagues to DuPont,” said Ed Breen, DuPont executive chairman and chief executive officer. “
We are excited to add Spectrum’s best-in-class advanced manufacturing capabilities, and decades-long customer relationships with the largest medical device OEMs to our existing healthcare portfolio. This acquisition fully aligns with our strategic objectives and is expected to increase overall top-line growth rates for DuPont through a broader and more integrated set of offerings for critical healthcare applications led by customer-driven innovation.”
With a global workforce of approximately 2,200 employees and annual revenue of about $500 million, Spectrum will become part of the Industrial Solutions line of business within the Electronics & Industrial segment.
Spectrum’s strategic focus on key, fast-growing therapeutics areas such as structural heart, electrophysiology, surgical robotics and cardiovascular complements DuPont’s existing offerings for biopharma and pharma processing, medical devices and packaging, including DuPont’s Liveo™ silicone solutions and Tyvek
® Medical Packaging. The combination with Spectrum increases DuPont’s existing revenue to high-growth healthcare markets to approximately 10 percent of its portfolio.
Read more: Medical Plastic Alert: New Materials and Applications Booming!
Source: DuPont
