MEDIA RELEASE PR37738
Creganna Acquires Tactx Medical Inc.
GALWAY and CAMPBELL, Calif., Jan. 5 /PRNewswire-AsiaNet/ --
- Two of the World's Leading Providers of Technologies and Services to
the Minimally Invasive Medical Device Industry Combine
- Company to be Known as Creganna - Tactx Medical
- Extended Global Reach, Enhanced Technology Depth and a Presence in Key
Medical Device Clusters Worldwide
Creganna, a leading supplier of technologies and services to medical device and
lifesciences companies today announced that 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.
Commenting on today's announcement, Helen Ryan, CEO Creganna, said: "This
move represents a key step in Creganna's vision to build a leading global
medical technology company. 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 fulfill 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 ten
global providers of technologies and services to minimally invasive medical
device companies."
A Partnership that Makes Sense
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.
Combined, the two companies will offer a complete range of technologies
and services for minimally invasive delivery and access devices, with a
specialist competency in the design and manufacturing of high end therapeutic
catheters.
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 is positioned to benefit from
these trends.
Creganna - Tactx Medical's customers provide minimally invasive medical
devices for clinical applications including interventional cardiology,
neurology, peripheral vascular, cardiac rhythm management and endoscopy.
Creganna - Tactx Medical 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. Terms of the transaction were not disclosed.
For further information:
Niamh Lyons, on behalf of Creganna +353 1 6633602
Robert Stanislaro, on behalf of Creganna +1 (212) 850-5657
About the Minimally Invasive Medical Device Market
Minimally invasive (MI) therapies seek to diagnose and treat medical
conditions with minimum surgical intervention - an approach favored by
physicians, patients and insurers. MI therapies are displacing traditional
open surgical approaches and have enabled the development of a complete new
range of medical devices. Advanced diagnostic & therapeutic catheters and
catheter based delivery systems are the essential platform for enabling
navigation and delivery of treatments within the body during these
procedures.
About Creganna
Creganna is a leading supplier of products, technologies and services to
medical device and lifescience companies worldwide. Creganna specialise in
the design and manufacture of minimally & less invasive delivery and access
devices for a range of therapies. The company has particular expertise in the
design and manufacture of components, sub-assemblies and complete catheter
and specialty needle devices. Creganna's customer portfolio includes the
world's leading medical device manufacturers.
Creganna employ 550 people worldwide at manufacturing facilities in
Galway, Ireland and Marlborough, MA. Additional sales offices are located in
Minneapolis, MN; San Diego, CA; and Finland. Creganna is an independently
About Tactx Medical Inc
Tactx Medical Inc is a full-service provider of technologies and services
for medical device companies. The company specializes in delivery systems and
high end catheters for minimally invasive therapies, with extensive
capabilities in engineering and pilot manufacturing services.
Tactx Medical Inc is headquartered in Campbell, CA and has manufacturing
facilities in Minneapolis, MN and Singapore. The company employs 270 people
worldwide.
www.tactxmed.com
SOURCE: Creganna
CONTACT: Niamh Lyons,
+353-1-6633602,
or Robert Stanislaro,
+1-212-850-5657,
both on behalf of Creganna
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