SensorMedics Corp. to Acquire Spectramed

SensorMedics Corp., an Anaheim maker of medical electronics systems for the lungs and heart, will acquire the cardiopulmonary division of Spectramed Inc., a Newport Beach medical products manufacturer, the two companies announced Monday.

Terms of the agreement, which is expected to become final later this month, were not announced.

Stu Foster, SensorMedics’ marketing vice president, said the acquisition gives SensorMedics an operation with about $20 million in annual sales and an active European sales unit. The division is headquartered in Dayton, Ohio.

SensorMedics became an independent company 3 1/2 years ago after its management led a leveraged buyout of the operation from SmithKline Beckman Corp. of Philadelphia. SensorMedics, which is still privately held, has annual sales of about $30 million.

Spectramed Inc. became an independent company last October when its management led a leveraged buyout of its operations from Gould Inc. Spectramed had its initial public stock offering in June, raising about $3.6 million.

With the sale of its cardiopulmonary division, Spectramed is left with a line of products that monitor the vital signs of patients in operating rooms and intensive care. For the first six months of the current year, Spectramed lost $2.1 million on sales of about $37 million.