DuPont acquires Spectrum Plastics Group for $1.75 billion

DuPont announced on May 4 that it has acquired Spectrum Plastics Group for US$1.75 billion. 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 catheters, 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 believes the deal will strengthen its position in the fast-growing, less cyclical healthcare market. Following the acquisition, approximately 10 percent of DuPont's combined revenues will come from the healthcare business.