Creganna-Tactx buys Wexford medical device company ABT Medical
Angioplasty balloons developed by ABT Medical
Irish medical-technology company Creganna-Tactx Medical has acquired Wexford-based company ABT Medical, which designs and manufactures medical balloons for minimally invasive devices.
The Galway-headquartered Creganna is now ranked among the top 10 global companies in the medical device outsourcing industry.
CEO Helen Ryan said the acquisition of ABT would be a strategic opportunity as part of Creganna's growth strategy.
"The acquisition of ABT represents a strategic opportunity to further develop our customer partnerships and strengthen our technology portfolio, particularly for the rapidly expanding peripheral vascular device market," said Ryan.
ABT Medical already serves a global portfolio of medical-device companies with its vascular and angioplasty balloons. The company has developed a proprietary processing technology to manufacture balloons up to and in excess of 300mm in length – apparently the longest commercially available balloon components within the industry.
According to Creganna, the acquisition of ABT Medical will augment its existing balloon design and manufacturing capabilities.
Siliconrepublic.com is hosting Med Tech Focus, an initiative which over coming months will cover news, reports, interviews and videos documenting Ireland's leading role in one of the hottest sectors in technology.