DuPont announced on May 4 that it has reached a definitive agreement with AEA Investors to acquire Spectrum for US$1.75 billion Plastics Group. The transaction is expected to close by the end of the third quarter of 2023.
Spectrum provides materials and technologies for specialty medical devices and components, including extruded medical tubing, catheter technology, medical balloons, flexible packaging and films. Rapidly growing key therapeutic areas such as structural heart disease, electrophysiology, surgical robotics and cardiovascular are Spectrum's strategic focus. The company currently has more than 2,200 employees.
DuPont said Spectrum fits perfectly with DuPont's strategic objective of delivering innovative specialty materials and solutions to end markets with long-term growth trends and attractiveness.
DuPont believes the transaction will strengthen its position in the fast-growing and less cyclical healthcare market. After the acquisition is completed, about 10% of DuPont's combined revenue will come from the health care business.
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