TE Connectivity to Acquire the Creganna Medical

Switzerland-based TE Connectivity is acquiring the Creganna Medical for $895 million in an all-cash transaction.

Creganna, headquartered in Ireland, designs and manufactures minimally invasive delivery and access devices serving original equipment manufacturers.

The acquisition establishes TE as a leading supplier to the fast-growing minimally invasive interventional medical device segment, the company says.

Creganna, which is owned by Permira Funds, reported sales of roughly $250 million in 2015. — Jonathon Shacat