Cretex Companies Acquires Spectralytics
12/3/2012 5:17:00 PM
ELK RIVER, Minn.-- Cretex Companies (www.cretex.com) has acquired the assets of Spectralytics, Inc. (www.spectralytics.com), a contract manufacturing provider of laser-based services to the medical device industry.
"Spectralytics brings laser cutting, drilling, and welding toour already-extensive portfolio of tight tolerance, precision manufacturing capabilities. We are also pleased that Gary Oberg, the founder of Spectralytics,will continue to lead the company."
"We are delighted to add Spectralytics to our Cretex Medical group," said Lynn Schuler, Chief Executive Officer of Cretex Companies, Inc. "Spectralytics brings laser cutting, drilling, and welding to our already-extensive portfolio of tight tolerance, precision manufacturing capabilities. We are also pleased that Gary Oberg, the founder of Spectralytics, will continue to lead the company."
Located in Dassell, MN, Spectralytics specializes in stent production, laser ablation, laser marking, and drilling of close tolerance holesrequired for catheters and embolic protection devices. Spectralytics works with multiple materials, including metals, polymers, and bioabsorbable polymers and composites.
Terms of the acquisition were not disclosed.
About Cretex Companies, Inc.
Cretex, established in 1917, is a privately held, diversified manufacturing company headquartered in Elk River, Minnesota. The company's subsidiaries operate in four major markets: medical, aerospace & defense, industrial, and infrastructure. rms, rms Surgical, Meier, JunoPacific, Spectralytics and Elk River Machine Company provide contract manufacturing services to OEMs requiring precision machining, metal stamping and fabrication, laser processing, plastic molding, medical device assembly and packaging, and heavy gauge metal machining and fabrication. Cretex Concrete Products provides reinforced concrete pipe, concrete bridge components, and other precast and prestressed concrete products serving the infrastructure needs of the central United States. Cretex Companies employs about 2,000 people in 36 locations in 11states.
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