Compelo Medical Devices - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

SurModics acquires balloon catheters provider Creagh Medical

Medical device and in vitro diagnostic technologies provider SurModics has acquired Ireland-based Creagh Medical, for around €30m.

The deal included an upfront payment of €18m, as well as up to €12m based on achievement of revenue and value-creating operational milestones.

Founded in 2006, Creagh Medical is involved in developing and marketing percutaneous transluminal angioplasty (PTA) balloon catheters.

The acquisition will enable SurModics to provide whole-product solutions to medical device customers in the interventional vascular market.

Creagh Medical provides product design and development, in-house extrusion, balloon forming, top-assembly and packaging services.

Its PTA products are approved across the globe, including Europe, the US and Japan.

SurModics president and CEO Gary Maharaj said: "We are excited about the acquisition of Creagh Medical and the strategic fit of its balloon catheter design and development, and manufacturing capabilities, which are critical to our transformation into a whole-product solutions provider.

"We are disciplined in our approach for acquisitions, recognizing that these investments must align with our strategic vision and accelerate our transformation. Creagh Medical’s capabilities are a strategic complement to our proven core technology."

SurModics provides surface modification coating technologies that impart lubricity, prohealing and biocompatibility characteristics and components for in vitro diagnostic test kits and microarrays.