Galway-based Creganna, a leading supplier of technologies and services to medical device and life sciences companies, has announced it has acquired Avalon Medical Services Pte Ltd. which trades as Tactx Medical Inc.
The company will be known as Creganna – Tactx Medical and will be positioned as a world leader in the provision of technologies and services for minimally invasive delivery and access devices.
“This move represents a key step in Creganna’s vision to build a leading global medical technology company," said Helen Ryan, CEO Creganna. "Tactx Medical, with its strong market reputation, is a true fit for Creganna. Our customers, medical device companies, are increasingly looking to strategic partners to fulfil more of their supply chain requirements. With our global locations, combined technologies and range of services Creganna – Tactx Medical is strategically positioned to meet these evolving needs.
“This move firmly positions Creganna – Tactx Medical within the Top 10 global providers of technologies and services to minimally invasive medical device companies."
Creganna – Tactx Medical, with locations in California, Minnesota, Massachusetts, Singapore and Ireland will have a presence in many of the key medical device clusters globally enabling stronger partnerships with customers, said Ryan.
The market for minimally invasive medical devices continues to grow. In parallel, the market for outsourced products and services is also evolving and forecast to grow.
Creganna – Tactx Medical says it will be positioned to benefit from these trends.The new entity will have more than 800 staff worldwide and a combined revenue of $110 million in 2009.
Barclays Bank Ireland, HSBC Corporate Banking Ireland and Bank of Ireland advised on the deal. The terms of the transaction were not disclosed.
Photo: Creganna CEO Helen Ryan.
Article courtesy of businessandleadership.com