Eden Prairie, Minn.-based SurModics has acquired percutaneous transluminal angioplasty balloon catheters manufacturer Creagh Medical for about $32 million.

SurModics says it made the purchase to help transform its device business from being a provider of coating technologies to offering whole-product solutions to the global interventional vascular market.

Many of Creagh’s products have been cleared for commercial sale in Europe, the U.S and Japan. — Michael Cipriano