Spectra Medical Devices has successfully acquired XL Precision Technologies, which will now operate as a wholly-owned subsidiary.

This strategic move enhances Spectra's capabilities in the development and manufacturing of precision micro-components, complex tubular components, and sub-assemblies tailored for the medical device sector.

The merger is expected to significantly bolster Spectra's position as a contract development and manufacturing organization (CDMO) by combining its commercial reach and procedural needle manufacturing expertise with XL-PT's advanced engineering and manufacturing techniques.

The CEO of Spectra expressed enthusiasm about the acquisition, highlighting its potential to deliver greater value to customers and meet a wider array of needs within the medical device community.

The managing director of XL-PT emphasized the complementary strengths of both companies, noting that the collaboration positions them well to serve emerging innovators and established OEMs in the medical device industry.

The acquisition is anticipated to drive substantial growth and solidify Spectra's role as a key player in the CDMO landscape.