Friday, October 05 10:13:19
Irish medical-technology company Creganna-Tactx Medical has acquired Wexford-based company ABT Medical for an undisclosed sum, Creganna said today.
ABT designs and manufactures medical balloons for minimally invasive surgery. The Galway-headquartered Creganna is now ranked among the top 10 global companies in the medical device outsourcing industry.
CEO Helen Ryan said the acquisition of ABT would be a strategic opportunity as part of Creganna's growth strategy.
"The acquisition of ABT represents a strategic opportunity to further develop our customer partnerships and strengthen our technology portfolio, particularly for the rapidly expanding peripheral vascular device market," said Ms Ryan.
ABT Medical already serves a global portfolio of medical-device companies with its vascular and angioplasty balloons. The company has developed a proprietary processing technology to manufacture balloons up to and in excess of 300mm in length - apparently the longest commercially available balloon components within the industry.