SensorMedics Buys Division of Newport's Spectramed

By JOHN TIGHE

Aug. 25, 1987 12 AM PT

Spectramed Inc. of Newport Beach said it has sold its cardiopulmonary division to SensorMedics Corp. of Anaheim for an undisclosed amount of cash.

Spectramed, created last October in a management-led buyout of the medical products division of Gould Inc., had been planning to sell the cardiopulmonary division since the company started, according to Charles A. French, chief financial officer.

“The division was a break-even operation for us,” French said. “We will now be able to concentrate on our critical care disposable products business.”

Spectramed, which became a publicly held company earlier this year, reported sales of $36.9 million in the first half of 1987. Sales figures didn’t include about $20 million from the pulmonary division, which had been considered a discontinued operation, French said.

SensorMedics President Robert F. Denham said the purchase should be a perfect fit for his privately owned company, a producer of cardiopulmonary equipment with sales of $26 million last year.

“It’s just what we were looking for. It means a major expansion in a complementary area,” he said.

He said SensorMedics is considering other acquisitions.