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© mikael damkier dreamstime.com Business | February 02, 2016

TE Connectivity to acquire the Creganna Medical Group

TE Connectivity has entered into a definitive agreement to acquire the Creganna Medical group for USD 895 million in an all cash transaction.
Creganna Medical's designs and manufactures minimally invasive delivery and access devices serving medical device original equipment manufacturers (OEMs). The company, headquartered in Ireland, reported sales of approximately USD 250 million in 2015 and is a portfolio company of Permira Funds.

"The acquisition of Creganna Medical is part of our well-established strategy to expand our leadership position in harsh environment applications," said TE Connectivity Chairman and CEO Tom Lynch.

"This transaction builds on our AdvancedCath acquisition and establishes TE as a leading supplier to the high-growth minimally invasive interventional segment. Our existing medical product offering, coupled with these acquisitions, positions TE with the broadest range of products and technologies serving this high-growth space,” Mr. Lynch continues.

Upon completion of the transaction, the business will be reported as part of TE's Industrial Solutions segment.
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