TE Connectivity has completed the acquisition of Permira Funds portfolio company Creganna Medical Group, for about $895m.
Based in Ireland, Creganna Medical is engaged in designing and manufacturing minimally invasive delivery and access devices that can be used in various therapies.
The firm offers services to medical device original equipment manufacturers (OEMs) in around 30 countries across the globe.
Creganna had generated sales of around $250m in last year. The acquired business will operate as part of TE’s Industrial Solutions segment.
TE Connectivity chairman and CEO Tom Lynch said: "Creganna’s products are used in life-saving medical treatments and surgical procedures where the highest levels of quality, reliability and performance are essential.
"Combining Creganna with TE’s existing medical business establishes TE as a leader in the attractive minimally-invasive interventional segment of the medical device market.
"TE now has the most complete product and capability offering in the industry, and is a fully integrated strategic supplier to major OEMs."
Last year, TE Connectivity also acquired US-based catheter systems producer AdvancedCath, for around $190m in cash.
AdvancedCath manufactures catheter systems such as balloon catheters, extrusions, medical balloons and braided catheter shaft components.
TE Connectivity provides connectivity and sensor solutions to its customers in different industries across 150 countries.
Image: TE Connectivity has acquired Irish firm Creganna Medical. Photo: courtesy of PinkBlue / FreeDigitalPhotos.net.