Galway’s Creganna sold to Swiss firm
Galway-based medical devices company, Crehanna has been sold for $895m in cash. The firm manufactures delivery devices used in minimally invasive vascular surgery.
The company, which is owned by London based global investment firm Permira, has been bought by Swiss based TE Connectivity.
Permira bought the Galway based firm in 2010, and since then Creganna’s revenues have grown from $131m to $249m.
Creganna has 2,000 employees working in seven offices around the world, including Galway.
It was founded in Ireland in 1979 as an engineering outsourcing firm, before entering the medical devices market in 1998.
It opened its first medical devices manufacturing facility in 2000.
In 2010, Creganna acquired Tactx Medical which specialises in catheters and delivery systems.