News
Spectra Medical Devices Acquires XL Precision Technologies
September 30, 2024
Wilmington, MA & Stockton-on-Tees, UK – Spectra Medical Devices, LLC (“Spectra”), a
portfolio company of QHP Capital, is pleased to announce the closing of its acquisition of XL
Precision Technologies Ltd. (“XL-PT”). XL-PT is now a wholly-owned subsidiary of Spectra.
XL-PT is a Contract Development and Manufacturing Organization (“CDMO”) specializing in the
manufacture of precision micro-components, complex tubular components, and sub-assemblies
for the medical device industry. XL-PT has a track record of developing and manufacturing
complex componentry 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 (“OEMs”).
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.
Rubicon Partners Industries, who acquired XL-PT in 2008, were the sellers. White & Case served
as legal advisor to Spectra. Piper Sandler served as financial advisor and Proskauer Rose served
as legal advisor to Rubicon Partners Industries.
About Spectra Medical Devices:
Spectra Medical Devices is one of the world's leading manufacturers of made-to-spec
procedural needles. Spectra is a CDMO to industry-leading, multi-national healthcare
companies, global OEMs, and emerging technology companies. Spectra also distributes a wide
range of complementary pharmaceutical products, surgical instruments, and medical supplies.
For more information, please visit www.spectramedical.com.
About XL Precision Technologies:
XL Precision Technologies is a CDMO specializing in the manufacture of precision microcomponents, complex tubular components, and sub-assemblies for the medical device industry. XL-PT utilizes laser, electrical discharge machining (EDM), and other advanced manufacturing
technologies to serve a wide range of medical applications, including cardio- and neurovascular,
endoscopy and laparoscopy, sports medicine, ophthalmology and drug delivery. XL-PT also
offers tailored development services such as quick-turn prototyping and technical support to
meet the needs of medical device customers during new product development. For more
information, please visit www.xlprecisiontechnologies.com.
About QHP Capital:
QHP Capital is an investor in technology and services companies in the life sciences, medical
technology, and healthcare sectors. QHP has built an investment platform to provide strategic
capital and industry expertise in partnership with strong management teams. The investment
team consists of seasoned investment and operational professionals with significant investment
experience and deep life science, medical technology, and healthcare expertise. QHP benefits
from an extensive network of industry experts that assist in identifying, analyzing, and growing
QHP’s portfolio companies. For more information, please visit www.qhpcapital.com.
Contacts:
Spectra Medical Devices
Chad Nickel
[email protected]
Readiness Opens Vast European Distribution Opportunities
March 22, 2024
Spectra Medical Devices, a global manufacturer of made-to-spec procedural needles and a distributor of complementary medical instruments, supplies, and pharmaceuticals, today announced that it has secured European Union Medical Device Regulation (EU MDR) certification for its entire range of radiofrequency (RF) needles.
The new EU MDR CE marking recognizes Spectra’s commitment to quality and exacting standards. The EU MDR includes product-specific requirements that exceed ISO 13485 organizational standards for medical device manufacturers to ensure the safety, performance, and quality of medical devices in the European market. With the CE marking, Spectra is now able to sell and distribute products in the European market.
“We are fiercely dedicated to quality standards, and we are proud to have received this recognition of our commitment to clinical safety and impeccable product performance,” said Chad Nikel, President and CEO of Spectra Medical Devices. “We’ve long been recognized for our precision procedural needles, and we are thrilled to be able to introduce them to the European market.”