Advertisement
Advertisement
February 1, 2016
TE Connectivity to Acquire the Creganna Medical Group
February 2, 2016—TE Connectivity Ltd. announced that it has entered into a definitive agreement to acquire the Creganna Medical Group for $895 million in an all-cash transaction.
Creganna Medical, headquartered in Ireland, designs and manufactures minimally invasive delivery and access devices serving medical device original equipment manufacturers. The company’s expertise is in minimally invasive medical procedures used in cardiovascular, neurovascular, and other life-saving treatments and procedures. Creganna reported sales of approximately $250 million in 2015 and is a portfolio company of Permira Funds.
The transaction is subject to the receipt of certain regulatory approvals and is expected to close in the third quarter of fiscal year 2016. The transaction will be financed through cash and debt. Upon completion of the transaction, the business will be reported as part of TE’s Industrial Solutions segment.
Advertisement
Advertisement
