Sparton Medical Systems Colorado, a wholly owned subsidiary of Schaumburg, Ill.-based medical-device and defense-industry manufacturer Sparton Corp., announced that it expects to acquire assets related to the contract-manufacturing business of Delphi Medical Systems in an all-cash, $8 million deal.
Part of Troy, Mich.-based electronic and automotive technology supplier Delphi Automotive, Delphi Medical is a Longmont, Colo.-based manufacturer of therapeutic devices, such as blood separation equipment and spinal surgery products, according to a news release.
The deal “provides immediate entry” for Sparton into the therapeutic-device market and is projected to result in annual revenue of $32 million, according to the release. The transaction is expected to close within 30 days and is subject to post-closing adjustments.
Sparton Medical Systems Colorado is currently based at Sparton's Schaumburg office and will move into Delphi Medical's Longmont facility at the close of the deal, according to an e-mail from Sparton spokesman Mike Osborne.