DuPont (NYSE: DD) has successfully concluded the previously announced acquisition of Spectrum Plastics Group (“Spectrum”), a well-established leader in specialty medical devices and components sectors.

Ed Breen, DuPont's Executive Chairman and Chief Executive Officer, expressed his satisfaction, stating, "We extend a warm welcome to our accomplished Spectrum colleagues as they join the DuPont family. The addition of Spectrum's exceptional advanced manufacturing capabilities and extensive customer relationships with major medical device OEMs brings an exciting dimension to our existing healthcare portfolio. This strategic acquisition harmonizes seamlessly with our corporate goals and is poised to enhance DuPont's overall revenue growth by providing a more comprehensive and integrated array of offerings for critical healthcare applications, driven by customer-centric innovation."

With a global workforce of around 2,200 employees and an annual revenue of approximately $500 million, Spectrum will be integrated into the Industrial Solutions division within the Electronics & Industrial segment. Spectrum's strategic emphasis on crucial and rapidly expanding therapeutic areas such as structural heart, electrophysiology, surgical robotics, and cardiovascular offerings complements DuPont's current offerings in biopharma and pharma processing, medical devices, and packaging, including DuPont's LiveoTM silicone solutions and Tyvek® Medical Packaging. The collaboration with Spectrum elevates DuPont's revenue from high-growth healthcare markets to roughly 10 percent of its total portfolio.

Source: dupont.com