Integer’s CEO said the acquisition is part of its strategy to expand in high-growth markets and will add ‘highly differentiated implant technology’ to its portfolio.
Galway-based medical implant developer Aran Biomedical has been acquired by medical device outsource manufacturer Integer for €120m.
Aran Biomedical specialises in the design, development and manufacturing of medical implants. The Údarás na Gaeltachta client company is based in An Spidéal and converts medical concepts into cutting-edge implantable options for its clients.
The Irish company generated sales of $17m last year, nearly doubling sales from 2020, and revealed plans to grow its Galway team with a new manufacturing facility.
It hopes the acquisition by Integer will help it continue to grow, while operations will be maintained at the An Spidéal base following the acquisition.
“Combining Aran Biomedical’s proprietary biomaterial implant technologies with Integer’s world-class delivery systems will lead to a more highly differentiated service offering to the medical device industry,” Aran Biomedical CEO Peter Mulrooney said.
Integer provides medical device design and outsourcing services for high-growth cardiovascular areas such as structural heart, neurovascular, peripheral vascular and endovascular, as well as general surgery. The multinational said an additional €10m could be paid to Aran Biomedical based on its “achievement of 2022 revenue growth milestones”.
“The acquisition of Aran Biomedical is entirely aligned with our strategy to expand our presence in high-growth markets,” Integer CEO Joe Dziedzic said. “Aran brings subject matter expertise and highly differentiated implant technology solutions to our portfolio.”
Údarás na Gaeltachta CEO Mícheál Ó hÉanaigh added that Aran Biomedical has been an “important client company” for the past few decades and will “continue to be so under Integer”.
“Integer is committed to the An Spidéal area as a critical technology centre for the broader company and we look forward to partnering with them as they develop their long-term plans in the region,” Ó hÉanaigh said.
Texas-headquartered Integer has 15 manufacturing sites globally, and has had a presence in Ireland for more than 25 years. It already has an R&D base in Galway as well as a site in New Ross, Co Wexford, employing around 1,300 people.
Last September, the multinational revealed plans to invest $30m in a new manufacturing facility in Galway Technology Park. The initial build will involve construction of a 60,000 sq ft facility, with completion planned for late 2023.
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